NOGOF 2021
The ES #NCDMB, Engr. @wabote_simbi FNSE, earlier today, virtually delivered the welcome address at the 3rd Nigerian Oil and Gas Opportunity Fair (NOGOF). “I welcome you all to the 3rd Edition of the Bi-annual Nigerian Oil & Gas Opportunity Fair (NOGOF) 2021”.
The ES #NCDMB, Engr. @wabote_simbi FNSE, earlier today, virtually delivered the welcome address at the 3rd Nigerian Oil and Gas Opportunity Fair (NOGOF). “I welcome you all to the 3rd Edition of the Bi-annual Nigerian Oil & Gas Opportunity Fair (NOGOF) 2021”.
This is the first fully virtual edition of the Fair to showcase the opportunities in the oil and gas sector. - Engr. @wabote_simbi FNSE
The 2019 NOGOF was the first event held two years ago in our 1,000-seater Conference Center in Yenagoa to test-run the newly installed facilities. It was an eye opener on the standard of organization that could be brought to local events in Yenagoa. - Engr. @wabote_simbi FNSE.
In line with the protocols in place due to the COVID-19 pandemic, we have elected to go fully virtual rather than postpone the event. - Engr. @wabote_simbi FNSE
The recent flurry of virtual and blended events such as SAIPEC, NOGOF, NIPS, NOG, LC Roundtable, and others lined up for industry stakeholders to meet and discuss various themes give me hope that we are on the way slowly but surely swinging back to better days ahead.
Even the data just released by NBS shows that our GDP moved from 0.11% in Q4, 2020 to 0.51% in Q1, 2021 just as oil contribution to the economy also moved from 5.87% to 9.25%. - Engr. @wabote_simbi FNSE
The theme of this year’s NOGOF which is ‘’Leveraging Opportunities and Synergies for Post Pandemic Recovery Of The Nigerian Oil & Gas Industry’’ underscores the current realities we face as a nation...
...and the opportunities and synergies that could be realized as we hopefully return to normalcy. - Engr. @wabote_simbi FNSE
The outline of this Welcome Address is structured into three parts. First, I will provide status of the opportunities we promised to work on during the last edition of NOGOF. - Engr. @wabote_simbi FNSE
Then I will highlight the various aspects of the existing and emerging opportunities as we see them. Lastly, I will share the focus areas we plan to deliver within the next two years. - Engr. @wabote_simbi FNSE
NOGOF is conceived as a platform for showcasing opportunities across the value chain of the Oil and Gas Business to industry stakeholders. - Engr. @wabote_simbi FNSE
The Fair is held every two (2) years which serves as a means of reviewing and updating the 5-year outlook of opportunities in the oil and gas industry. - Engr. @wabote_simbi FNSE
At the last event in 2019, the Board made some commitments to the industry as part of its contribution to creation and/or realization of industry opportunities. - Engr. @wabote_simbi FNSE
In line with our practice within NCDMB to provide status update of commitments and actions from previous conferences, permit me to share the update of our actions from the 2019 NOGOF. - Engr. @wabote_simbi FNSE
In 2019, we promised to complete our 17-storey headquarters building. I am happy to report that we delivered on this promise with the commissioning and naming of the edifice as the Nigerian Content Tower by President Muhammadu @MBuhari). - Engr. @wabote_simbi
We successfully relocated all our staff into the building in Q3 of 2020. Power supply to the edifice is guaranteed from the fully commissioned and operational gas-fired 10MW Power Plant at Elebele thereby cutting cost from the use of diesel by more than 70%. - @wabote_simbi
As promised, we published the 2nd Edition of the NOGOF Compendium of Opportunities containing 5-year outlook of projects in the upstream, mid-stream, and downstream sectors of the industry. - Engr. @wabote_simbi FNSE
A total of thirty-three (33) companies were featured with over eighty-one (81) major projects listed. - Engr. @wabote_simbi
We also promised to deliver on our investment policy on modular refineries. We have proven the concept with the commissioning of the 5,000bpd Waltersmith Modular Refinery at Ibigwe, Imo State. - Engr. @wabote_simbi FNSE
Three (3) other modular refineries are under construction under our Commercial Ventures programs.
In the last two years, we have commenced partnerships to deliver gas value-chain related projects as follows...;
In the last two years, we have commenced partnerships to deliver gas value-chain related projects as follows...;
Partnership with NEDO Gas Processing Company in Kwale, Delta State for the establishment of 80MMscfd of Gas Processing Plant and a 300MMscfd Kwale Gas Gathering hub.
Partnership with Triansel Gas Limited in Koko, Delta State for the 5,000MT LPG Storage and Loading Terminal Facility.
Partnership with Duport Midstream for the construction of Energy Park inclusive of a modular refinery, power plant and 40MMscfd gas processing facility at Egbokor, Edo State.
Partnership with Brass Fertiliser for the development of a 10,000MT/day Methanol Plant and 500MMscfd gas processing plant at Odiama in Brass.
Partnership with Rungas Group for the manufacturing of 1.2million composite LPG cylinders every year in Bayelsa and Lagos States.
Partnership with Butane Energy to deepen LPG utilization in the North with the roll-out of LPG bottling plants and depots in ten (10) Northern States of Kano, Kaduna, Katsina, Bauchi, Nassarawa, Zamfara, Niger, Plateau, Gombe, Jigawa states and Abuja. - Engr. @wabote_simbi
We have also implemented other actions contained in the 2019 NOGOF communique such as ascertaining the capacity of fabrication yards in Nigeria, gap closure of special skills such as Certification of Level-3 Non-Destructive Testing Practitioners...
...and setting up of Diploma Program for Marine Quantity Surveyors at the Niger Delta University. These were done to replenish aging practitioners and scarcity of skills set. - Engr. @wabote_simbi FNSE
As we emerge from the impact of COVID-19 pandemic, I wish to highlight the following opportunity areas to target within the next two (2) to five (5) years:
a) Policy Driven Opportunities,
b) Funds Driven Opportunities,
a) Policy Driven Opportunities,
b) Funds Driven Opportunities,
c) Infrastructure Driven Opportunities,
d) People Driven Opportunities; and
e) Linkage Driven Opportunities
- Engr. @wabote_simbi FNSE
d) People Driven Opportunities; and
e) Linkage Driven Opportunities
- Engr. @wabote_simbi FNSE
The roll-out of new policies and enactment of new laws typically open new vista of opportunities for discerning investors. The declaration of Years 2021 to 2030 as the Decade of Gas by the Ministry of Petroleum Resources under the leadership of...
...His Excellency, President Muhammadu Buhari (@MBuhari) and the Honorable Minister of State for Petroleum Resources (@HETimipreSylva) provide a decade-long of opportunities for the monetization of our huge gas reserves. - Engr. @wabote_simbi FNSE
The impending passage of the Petroleum Industry Bill, the amendment of the NOGICD Act, the ratification of the AfCFTA agreement. and the recently approved and gazetted Ministerial Regulations are some of the policy and regulatory-driven opportunities we see in the coming years.
The roll out of Executive Orders by @NigeriaGov to drive key aspects of the present administration’s goals have been very useful in raising the awareness about local content opportunities as well as demonstrating executive backing of the practice. - Engr. @wabote_simbi
Three out of the ten (10) Executive Orders issued to date by His Excellency, President Muhammadu Buhari are specifically focused on local content and investment. - Engr. @wabote_simbi FNSE
Funding is one of the critical elements required to realize Oil and Gas opportunities. We have widened the options for accessing our intervention funds by increasing the size of our intervention funds...
...from $200million to $350million, increasing the number of products from 5 to 7, and also increasing the number of managing banks from 1 to 2. - Engr. @wabote_simbi FNSE
The USD50million Nigerian Content Research and Development Fund has been approved by the NCDMB Governing Council to drive basic research, commercialization of research breakthroughs, establishment of Centers of Excellence, and to sponsor University endowments. - @wabote_simbi
We have committed a total of USD332million to attract project developments valued at $3.7billion under our commercial ventures partnership program. - Engr. @wabote_simbi FNSE
@NigeriaGov is also implementing the N2.3trillion Economic Sustainability Plan managed by the Office of the Vice President for public works, housing program, Solar Home Systems, agriculture, healthcare, and social investment. - Engr. @wabote_simbi FNSE
There is no gainsaying that the desired level of opportunities cannot be harnessed by Nigerian companies without the domiciliation of critical infrastructure such as roads, power, trunklines, railways, etc - Engr. @wabote_simbi
The Nigerian Oil and Gas Park Scheme (NOGaPS) at Odukpani in Cross River state and the one at Emeyal-1 in Bayelsa state are at advanced stages of completion. - Engr. @wabote_simbi
There are opportunities in areas of manufacturing, logistics, security, facilities management, training, catering services, occupational health services, and many others. - Engr. @wabote_simbi
Just yesterday, I passed through the newly opened Bayelsa International Airport. The spanking new facility is breaming with opportunities and waiting for discerning investors to take steps to realize the first-mover advantage. - Engr. @wabote_simbi
The railways and the train stations, the Second Niger Bridge, the AKK Pipeline, and other infrastructure project provide unique opportunities for investments and businesses to thrive. - Engr. @wabote_simbi FNSE
People, they say, are the most important resources of all the factors of production. There is a huge opportunity in Human Capital Development and Manpower Resourcing which are two major areas of opportunities for local companies. - Engr. @wabote_simbi FNSE
We have a large number of youths than needs to be trained. Some of the much needed skill sets are disappearing and must be replaced using local capabilities. - Engr. @wabote_simbi FNSE
We are excited that the Hon Minister of State has domiciled the PROJECT 100 Project Management Office within the Board. It is an initiative we truly believe in as a way to develop human capacities for the industry. - Engr. @wabote_simbi
The linkage driven opportunities are the ancillary or support opportunities that are created alongside or come after the forerunner opportunities. - Engr. @wabote_simbi
The commencement of the operational phase of the African Continental Free Trade Agreement (AfCFTA) in the next big evolution of the local content practice at the continental level. - Engr. @wabote_simbi
Although the COVID-19 pandemic dampened the momentum of the roll-out, the agreement represents a huge opportunity for African countries and businesses. - Engr. @wabote_simbi
I dare say this is the mother of all opportunities as goods and services could be exchanged across sectors and across borders without hinderance. -Engr. @wabote_simbi FNSE
With the world's largest free trade area and a 1.2billion-person market, AfCFTA opens up a new horizon for businesses for many decades to come. - Engr. @wabote_simbi
I would like to use this opportunity to announce the Board’s commitment to what we will deliver between now and the next NOGOF event. -Engr. @wabote_simbi
These include completion and commissioning of two additional modular refineries in Edo and Bayelsa States. This implies delivery of one modular refinery per year within a 3-year period. - Engr. @wabote_simbi FNSE
We shall complete and commission composite LPG cylinder manufacturing plants with combined capacity of 1.2million cylinders per annum. - Engr. @wabote_simbi FNSE
We shall commission 3 others projects dedicated to gas processing, LPG bottling, and production of base oil.
We shall commission and commence operations from our industrial parks at Odukpani and Emeyal-1. - Engr. @wabote_simbi FNSE
We shall commission and commence operations from our industrial parks at Odukpani and Emeyal-1. - Engr. @wabote_simbi FNSE
We shall commercialize at least one R&D project and last but not least, we shall close skills gaps in under-water welding and any other core skill required in the industry. - @wabote_simbi FNSE
Once again, I thank you all for being a part of this edition of NOGOF and I humbly request that you actively participate in all the sessions that have been outlined in the agenda. - Engr. @wabote_simbi FNSE
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