The Group Managing Director, Nigeria National Petroleum Corporation (NNPC), Mele Kyari has said that opportunities abound in the nation’s oil, gas, power sector as well as in infrastructure development.
Kyari stated that despite the severe impact of the COVID-19 impact on the global economy, the Nigerian oil and gas sector is replete with opportunities in upstream, midstream, downstream, and even in the services sectors for potential investors to tap into.
The NNPC boss made this known on Tuesday at the third edition of the Nigerian Oil & Gas Opportunity Fair (NOGOF 2021) themed Leveraging Opportunities & Synergies for Post Pandemic Recovery of The Nigerian Oil & Gas Industry.
He said, “There is no gainsaying the fact that Nigeria’s Oil & Gas Industry is replete with opportunities. “From the upstream, midstream to the downstream and even to the services sectors, opportunities abound for potential investors to come in line with today’s theme to create synergies towards post-pandemic recovery of the nations Oil & Gas Industry.
He enumerated some of the areas synergies could be created between the NNPC and potential investors, towards assured value creation and a guaranteed fair share of Return on Investment (RoI).
“In the Upstream, opportunities abound in the area of exploration of frontier basins, the development of upstream gas fields, and the financing of greenfield/brownfield additional production on de-risked assets.
“In Gas & Power infrastructure development, there are opportunities in expanding our gas pipeline networks, development of gas-based industries as well as the Integrated Power Plants.
“In line with our aspiration towards becoming a net exporter of petroleum products, opportunities abound in the rehabilitation of our existing refineries as well as the construction of greenfield condensate refineries.
“As we strive to deepen domestic gas utilisation, it has created more opportunities in the downstream sector especially in LPG and CNG plants across the country.
“There are also opportunities in the pipeline and storage tank construction; as well as developing Shipping Capacity.
“In the Ventures & Business Development, we are ready to partner investors in the development of multi-specialist hospitals to strengthen healthcare service availability and support telecommunication infrastructure availability.
“Let me once again reassure you that at NNPC, we are ready to collaborate with investors towards turning opportunities into real value, for the benefit of all, and especially towards taking our Industry to even greater heights,” Kyari said.
He commended the Management and leadership of the NCDMB for its noble and conscious effort at projecting industry opportunities before stakeholders, especially potential investors.
“Let me start by reiterating NNPC’s unflinching support and full alignment with the NCDMB in its quest to engage industry professionals towards achieving its primary mandate of building and supporting the development of local capacities and capabilities in the Nigerian oil and gas industry.
He said, “You will agree with me that for an industry that has been ravaged and disrupted by the impact of the dreaded COVID19 pandemic, the Oil & Gas industry will benefit from this veritable platform where heart-to-heart, constructive discussions on recovery and the way forward will be highlighted.
“I am optimistic that this conference will further foster institutional collaborations, maximise the participation of Nigerians in oil and gas activities, link oil and gas sector to other sectors of the economy, and maximise utilisation of Nigerian resources for the benefit of Nigerians and other stakeholders,” the NNPC boss said.
By Peace OBI