The Nigerian Association of Petroleum Explorationists (NAPE), a foremost oil industry association in Sub-Saharan Africa will be holding its annual international conference and exhibition in Lagos to deliberate on major critical issues in a quest to address the challenges in the Nigerian Energy industry. NAPE is the umbrella association for persons involved in the professional application of geosciences and related disciplines to the exploration and production of oil and gas in the country, it has over 10,000 strong individual and 50 corporate membership which cuts across the oil and gas industry.
Nigeria currently maintains an economically unstable negative net energy trade balance in which the nation exports virtually all the crude oil produced and imports a substantial part of its refined petroleum products needs while under-utilizing other energy sources such as bitumen, coal, lignite, and shale oil, thereby leading to a mono commodity economy that is largely dependent on crude oil export. Due to low oil price, dwindling oil revenue, there have been strident calls for the nation to diversify her economy from the monolithic economy and absolute dependence on oil into other areas to sustain the nation in terms of revenue generation.
The inevitable slowing down of the economy occasioned by the adverse crude oil prices regime still persists. Before Nigeria officially acknowledged she is in a recession, low oil prices had resulted in slowdown of projects as well as the stopping of exploration activity in some fields. In the upstream, there had been a sharp cut-back in projects with companies instead, focusing on short term activities and production sustenance. Successive administrations have enunciated economic policies and strategies on how to diversify the nation’s economy from oil to other sectors like agriculture, mining and tourism.
The Nigerian economy has not diversified at the anticipated rate and contributions from non-oil sector still remains low, but signs of improvement have begun to show. A recent International Monetary Fund (IMF) report indicates that a diversified economy based on several sources of income is more resilient and able to recover faster from different shocks as any weakness in any particular sector can be mitigated through the strong performance in other sectors. Although significant achievements have been recorded in the management of Nigeria’s oil and gas resources compared to recent past, NAPE as an oil industry association, believes that to build a diversified and resilient economy, it must include finding and enhancing new opportunities and prudently allocate its revenue which comes mainly from oil and gas to the development of other sectors of the economy.
It is against the backdrop of the foregoing that NAPE will at its 35th Annual International Conference and Exhibition be examining strategies to tackle these realities. The Conference holds at the Eko Hotel and Suites, Victoria Island in Lagos from 19th to 23rd November, 2017.
The Theme of the epic event is “A Roadmap for Nigeria’s Oil and Gas Industry in a Diversifying Economy” and the Conference will also throw its searchlight on survival strategies for petroleum exploration and exploitation in a challenging environment while also examine the effectiveness in the existing policies to drive growth in the oil and gas industry so as to come up with initiatives for the development of road maps and new policy initiatives.
The Conference has the following technical Sub-themes: Nigerian Oil and Gas Business Environment in a Diversifying Economy, The Evolving Global Energy Mix and How Nigeria Can Participate For Growth and Development.
In addition, the conference will address cogent issues such as: Reserves Replacement & Growth: What Strategies, What Action? Maximizing Production and Profitability through Innovative Cost Effective Reservoir Management Strategies and Frontier Exploration Plays: Niger Delta Deep Potential and Inland Basins.
The annual conference precedes a pre-conference workshop which will be held on November 9, 2017 with the theme “Transforming Nigeria’s Oil and Gas Industry to Meet Global Demand-Supply Realities”. The event will feature several leading lights and experts of high repute in Nigeria’s exploration space. The Keynote paper will be delivered by Dr. Emmanuel Egbogah, Chairman Emerald Energy Resources and former Presidential Adviser on Petroleum matters. Lead speakers include: Osagie Okunbor, Managing Director, SPDC and Chairman of Shell Companies in Nigeria; Austin Avuru, Chief Executive Officer Seplat Petroleum Development Company Plc. And Nicholas Terraz, Managing Director/ Chief Executive, Total E&P Nigeria.
The event also features a Panel of Discussants comprised of Funsho kupolokun, former Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC); Dr. Lai Fatona, Managing Director, Niger Delta Exploration & Production Plc.; Razak Shittu, General Manager , UBA Energy Bank; Anibor kragha, Chief Operating Officer,-Refineries, NNPC. The workshop will be moderated by George Osahon, Chairman Energia Nigeria Limited and former Director, Department of Petroleum Resources (DPR). The pre-conference Workshop is expected to set the tone for the entire conference and it is worthy to note that key pieces of legislation such as the Marginal Fields Act and the Deepwater Act were all based on templates that came out of previous NAPE Pre-Conference Workshop Communiqués.
Besides, the opening ceremony of NAPE’s flagship will take place on Tuesday 21st November 2017 beginning. The event will attract key government officials, captains of industry, the legislature and the academia. Some of the guests expected at the event include: Dr. Ibe kachikwu, Minister of State, Petroleum Resources; Jeffrey Ewing, Chairman/ Managing Director, Chevron Nigeria Limited.
The All Convention Luncheon usually features speakers who have distinguished themselves in various spheres of human endeavours locally and globally. This year’s ACL will have in attendance, Dr. Kayode Fayemi, Minister of Solid Mineral Development and former Governor of Ekiti State. He will be speaking on the topic: Mineral Resources- Building Hope for Diversification. Peter Obi, immediate past Governor of Anambra State will also be speaking at the event. Obi’s presentation is titled: Changes in Global Oil Price and Impact on Nigeria’s Economy- Lessons from the Recession. According to NAPE Executive Committee, the ACL also holds on Tuesday, November 21, 2017 and attendance at the event is strictly by invitation.
NAPE Management Session will be focusing on “New Funding Strategies for the Nigerian Upstream Oil and Gas Industry”. The Keynote paper will be delivered by Dr. Maikanti Baru, GMD of NNPC. The event will be moderated by Osten Olorunsola, former Director, DPR. This event takes place on Wednesday 22 November, 2017.
The Exhibition will showcase the latest technologies, products, services and competencies from major IOCs, Indigenous operators, Services companies in the upstream sector of Nigeria’s oil and gas industry. This year, NAPE will be having a dedicated pavilion for banks/financial institutions, as part of our wider inclusion.
The Awards and Recognition Night, which is the biggest social event of the conference takes place on Thursday 23rd November and will recognize individuals, institutions and corporate entities that have advanced the learning and practice of the geosciences in Nigeria and globally. It will also celebrate high performing companies in the oil and gas industry whose commitment has resulted in achievements that are an inspiration to the membership of NAPE.
The African Night is a fun filled event showcasing the best of Africa’s culture, tradition and entertainment. The African Night holds on Wednesday 22ND October, 2017. The annual conference will also provide other learning opportunities which include the Young Professionals Programme (YPP) and Short Courses.