Right; Dr. Andrew Ejaiyeseire, former president of NAPE and his successor, Ajibola Oyebamiji
Foremost oil industry association in sub-Saharan Africa, Nigerian Association of Petroleum Explorationists (NAPE), held its 36th Annual International Conference and Exhibition in Lagos. The professional association of petroleum geologists and related disciplines attracted renowned explorationists, industry experts and investors.
The event with the theme “Evolving Strategies for a Sustainable Business in a Fluctuating Oil Price Regime” brought together oil and gas professionals from across the world with experts in the entire value chain of the industry.
President of NAPE, Dr. Andrew Ejayeriese said, in the last fifteen years the association has witnessed some changes in the oil industry purely driven by fluctuations in the price of crude oil. This has also affected the economies of oil dependent nations including Nigeria. Looking at the immediate future, it is becoming glaring that US as a non OPEC member is likely poised to overtake Saudi Arabia as the second largest producer of oil and gas. Over the past decades, NAPE and all other oil and gas associations have always been at the forefront of developing strategies and programmes to help the industry achieve sustainable revenues and many across the globe depend on the association to come forth with ideas and technologies to wither the current economic situation.
Ejayeriese noted that NAPE as an organization has continued to help in the development and support the deployment of cost effective cutting-edge technology to train Nigerians and influence the direction of government policies. “This has helped in positioning the Nigerian oil and gas industry to remain competitive in the constantly changing global oil market.”
The NAPE president stated further that the association remains a platform for geoscientists and related disciplines both in the academia and in the oil and gas industry to share innovation, company technologies and ideas through its monthly technical meetings across all its chapters. According to him, “In the recent times the industry has just recovered from the crude oil price glut. Present day price index was influenced by demand and supply interplay and surrendered to OPEC decision to reduce production.” Most companies are cautious from the 2015 to 2016 experience while employing new business strategies in order to remain profitable.
Ejayereise revealed that some of the strategies devised include employing new forms of technology devise, setting corporate objectives. The president remarked on the witnesses of present day digital transformation to form artificial intelligence that has transcended the engineering and petrochemical industry. The digital transformation is already finding its role in the oil industry. This will propel the industry to the digital age and open new growth for opportunities. He made it known that collaboration with international bodies create a platform to share ideas with current realities in order to face challenges.
On industry regulations and energy policies, the President said favourable operational policies is significant because it will attract investors and create enabling business environment in-country. “More indigenous and foreign firms will emerge if the right policies are put in place.”
Ejayereise regretted the non-passage of the Petroleum Industry Governance Bill (PIGB) that is awaiting presidential assent. This will make the current state of Nigeria petroleum industry to remain the way it is for a long time unless there are reforms that will make it globally competitive in line with current business practices. In addition, taking advantage of recent advances of recent technology in the industry.
He emphasized that research into the energy landscape shows that request on power will continue to grow while electricity demand will grow twice as expected making fuel to be relevant. Demand for power will also rise by almost 40% in the next twenty years. Crude oil will continue to be largest contributor to Nigeria’s energy demand while other petroleum products will be of significant use in the country.
The awards night of the event was sponsored by AMNI Exploration and Production Company which commenced in 1993. Presently, the company has been operating in Nigeria for twenty-five years. Addressing the audience in his sponsor’s remark, Wale Olafisan, Group Managing Director of the company expressed delight for sponsoring the event. AMNI was commended for its unflinching support to the association activities. The company will be spreading its tentacles to Romania, Trinidad and Tobago to attain its set objectives with successful story as not just an indigenous giant but an international oil company.
The awards night was a platform to give awards to members for dedication, excellence and integrity. They have put their talents to good use for the oil industry including the revered association. The distinguished awards committee was made of people with impeccable and credible character. Rt. Rev. Precious Omuku was conferred with NAPE prestigious highest award, the Aret Adams Award while eight members became Fellows of the association.
The exhibition witnessed new entrants with IOCs, independent companies, relevant regulatory agencies and academia participated. It was a successful exhibition year for NAPE. PWC, a renowned audit firm assessed the exhibition according to set criteria by the committee. Such criteria include: NAPE speeches and presentation at various technical and non-technical sessions, aesthetic and readiness, audience engagement, good personnel and compliance with exhibition directives. The assessor visited all the exhibition booths.
On the platform of academia, the best exhibiting university was Mountain Top University and the best new entrant went to Dreg Waters Petroleum and Logistics Limited. The best non-oil and gas sector exhibitor was won by Nigerian Content Development and Monitoring Board (NCDMB) while the best indigenous service provider went to Dreg Waters Petroleum Logistics Limited.
Best service provider went to Baker Hughes a GE company while the best indigenous E&P company went to New Cross Petroleum Limited. The best third overhaul exhibitor award was won by Total E&P, Nigeria Limited while second best overhaul exhibitor was won by Shell Companies in Nigeria.
Jubilation and excitement greeted the hall when Mobil Producing Nigeria Limited, was declared as the best overhaul winner of the NAPE 2018 International Conference and Exhibition. The champion was celebrated. Awards were also given to outgoing and new NAPE executives for their meritorious services to the association.
The most significant highlight of the conference was the change of baton and emergence of a new president to run and manage affairs of the association for another one year.
Shortly after receiving the mantle of leadership as the new NAPE president, Ajibola Oyebamiji, commended Ejayeriese and his contributions towards the success of the association. Oyebamiji, 41st president of NAPE extolled the contributions of past presidents. He said their “Contributions and growth to the study and practice of Geosciences will always remain indelible in the minds of our history as an association and prosperity in general.” Ajibola intends to improve and leverage on what has been built together while initiating the new ideas for the association. The new president added that there will be “Maintaining and advancing pursuit for excellence in research, innovations, knowledge, management, collaboration and enhancements of members benefits will remain our focus.”
Ajibola stated that the objective of NAPE which is to find oil and gas, the vision will be harnessed for members and the industry in general. He enjoined the new executives of the association to brace up to future challenges because “If you want to go fast, you can go alone, but if you want to go far, you can go together.” He told the members that with their collective support NAPE will move forward.