The recent enactment of a new Petroleum Industry Act (PIA) has raised hope among stakeholders with many saying that for the first time, the gas sector is ready to play a major role in the growth of the Nigerian economy.
According to indigenous company, Dorman Long Engineering Limited, a combination of Nigeria LNG Train 7 alongside other gas projects, fuelled by the PIA, will culminate in the diversification of Nigeria’s economy.
The world is gradually turning away from crude oil to gas to drive economies. Countries like Norway and Saudi Arabia, among others, are doing well because they have made gas a critical catalyst to their economic development.
Nigeria is reputed to be a rich gas province producing a little oil. Conservative estimates say the country’s proven reserves of over 206 trillion metric standard metres (TCM) of natural gas outstrip the potentials of crude oil equivalent by ten times over.
Sadly, it is a contrast that the country is so blessed, yet has so many gas flare sites dotting the Niger Delta region, while homes and industries are unable to realise their full potential for lack of electricity.
The challenge has always remained the dearth of necessary infrastructure to develop and harness these huge potentials into economic benefits.
“Collectively, investments in Nigeria’s gas sector will help diversify the revenue portfolio of the Federal Government,” Timi Austen Peters, chairman of Dorman Long, said at the virtual oil and gas solutions seminar, organised by his company and Rockwell Automation.
He noted that Rockwell Automation’s gas technology solutions would be instrumental in Nigeria’s gas sector through its upgrade initiatives, maintenance and process systems.
“We at Dorman Long Engineering (DLE) are excited to be part of Rockwell Automation’s newest technologies in the development of the Nigerian gas industry,” Austen Peters said.
He explained how DLE’s expertise, footprint and established relationships with the oil majors and minors allow her the comparative advantage and position to market the RA brand.
“We are confident that this innovative technology will support your businesses to realize smarter and connected solutions towards operational excellence,” he added.
To join the global train, other stakeholders have advocated the need for more collaboration, especially in terms of collective investments in gas projects, a development they say can help diversify the revenue base of Nigeria’s economy.
Also speaking at the event, managing director, Rockwell in South Africa, Canninah Mapena, who doubles as the sales director for Rockwell in Africa, said the partnership with DLE signifies the company’s commitment towards more visibility in Nigeria.
“One of the issues I have had was the business that we are currently doing in Nigeria. If you look at the Gross Domestic Product (GDP) of Nigeria, it’s over $1 trillion. We’re not getting anything in terms of us and our partnership, and growing the business in Africa,” Mapena said.
She added: “We are here for the next 100 years as Rockwell Africa and DLE partners.
Dorman Long Engineering is a major oilfield equipment, structural steel, marine engineering and fabrication company.
Since its inception, the company has been a major contributor to Nigeria’s industrial and Infrastructural development through steel fabrication and erection services.
In recent years, asset management, galvanising and manpower supply services have turned Dorman Long into a vendor of choice in the oil and gas, telecommunications and power sectors.