The Federal Government has pledged to monetize the nation's abundant gas resources for economic growth and development by putting in place the required policy framework and strategic initiatives.
Speaking at the Opening Ceremony of the Society of Petroleum Engineers Annual Conference and Exhibition, the President and Commander-in-Chief of the Federal Republic of Nigeria, Dr. Jonathan Ebele Goodluck, who was represented by the Honourable Minister of Petroleum Resources, Mrs Diezani Alison-Madueke outlined various policy objectives being pursued in an integrated manner to give impetus to the oil and gas sector of the Nigerian economy. Amongst these policy objectives is the need to increase the pace of oil and gas exploration development and production with a view to continually increase the nation's reserve base and producibility. Dr. Jonathan commended The Society of Petroleum Engineers for continuously providing the platform for government to leverage on its professionalism in the area of oil and gas exploitation and development.
In its effort to optimize the gas potentials of the nation, the Ministry of Petroleum Resources, has enforced the Domestic Gas Supply Obligation (DGSO) by:
| 1. |
Establishing Domestic Gas Supply Obligation (DGSO) Allocation Model and has assigned the Obligations to the respective gas producers. |
| 2. |
Generated Gas Resource Sourcing Data |
| 3. |
Establishing a Swapping Mechanism for effective delivery of gas to consumers with minimal pipeline infrastructure. |
Also the implementation of the critical aspects of the Nigeria Gas Master Plan is ongoing. These are all geared towards maximizing the potentials of this natural resource for economic growth.
In a closing speech delivered by the Group Managing Director of NNPC, Engr. Austen Oniwon, reiterated the resolve of NNPC to transform the nation's gas resources into a premium revenue yielding resource. He solicited the commitment of the Oil and Gas industry stakeholders towards gas flare-out through gas utilization and monetization.
This year's conference/exhibition was the 35th edition and took place on August 1-3, 2011 at Transcorp Hilton, Abuja. The event attracted a large cream of industry professionals and top ranking government dignitaries from Nigeria and neighbouring countries. To this extent, the conference served as a veritable platform for effective interaction between government as policy maker and professionals who are the policy implementers.
The theme of the conference was "Global Energy Dynamics: Challenges and Opportunities in the African Region." The conference featured a number of technical papers, panel sessions and seminars, aimed at deriving maximum value from the nation's energy sector.
A number of companies (Buyers and Suppliers) in the industry also showcased their service offerings.
Some of the companies included: Shell Petroleum Development Company (SPDC), Chevron Nigeria Limited (CNL), Nigerian Agip Oil Company (NAOC), Nigerian Petroleum Development Company (NPDC), Schlumberger Nigeria Limited, Addax Petroleum Development (Nigeria) Ltd.
(APDNL), Baker Hughes etc. NipeX exhibition at the conference was "spiced" with a quiz contest on its operations. The contest which was a strategy for creating awareness on NipeX operations targeted Suppliers who participated at the conference.
The quiz contest was instrumental in attracting visitors to the NipeX booth. NipeX facilitated strategic alliance between foreign investors and Nigerian companies by referring such inquirers to Petroleum Technology Association of Nigeria (PETAN).
In keeping with its Vision/Mission statements, NipeX obtained customers' feedback and product
improvement initiatives from the conference for the purpose of continuously improving its deliverables.
