• Monday, May 20, 2024
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FirstBank engages energy operators on capacity development at OTC


 In its bid to promote thought leadership, local capacity development and infrastructural development in the country, First Bank of Nigeria Limited has concluded plans to host Oil and Gas professionals at the Offshore Technology Conference (OTC) in Houston Texas.

Kehinde Lawanson, executive director Corporate Banking Group, said the Bank’s event provides a platform to engage Nigerian and foreign attendees on issues relating to the development of offshore resources in the fields of drilling, exploration, production and environmental protection. It will also throw up meaningful strategies for maximizing the potential that is abound in the sector. Lawanson said the event would also deliberate on generating funding for the sector and boosting local capacity to take advantage of the FirstBank’s local content laws.

The Bank will be hosting a networking dinner on May 8, 2013 to facilitate exchange of ideas on ways to boost local capacity and align the nation’s oil and gas sector with global trends. The OTC which is widely regarded as the largest gathering of petroleum professionals across the globe kicks off at the Reliant Center, Houston, Texas, on Monday, May 6, 2013 and ends on Thursday, May 9, 2013.

Lawanson said the Bank was working with the Association of Nigerian Petroleum Professionals Abroad (ANPPA) and Petroleum Technology Association of Nigeria (PETAN) to ensure that the event would produce meaning partnerships between Nigerian petroleum operators and their foreign counterparts.

“In keeping with our pedigree of promoting economic development and growth, FirstBank sees huge opportunities in the sector and is confident that the networking dinner will chart a strategic course for growing the oil and gas sector in Nigeria,” he said.

On the OTC, Lawanson said it provides an avenue to network with major global oil and gas players as well as peer reviews that facilitate the strengthening of existing relationships and farming out opportunities for goring global production.

“FirstBank will always be at these strategic events, driving thought leadership and far-reaching entrepreneurial and capacity building for players and regulatory authorities in the sector. As a major financier of oil & gas projects in Nigeria, we will continue to provide funding for well thought-out project in line with the principles of sustainable banking,” he added.

FirstBank has over the years remained a major player in infrastructure financing in the oil and gas sector. Some of the Bank’s activities in the sector are: Vessel finance facility of $52.0million for the purchase of two jack-up badges to be leased to Mobil Producing for the execution of a Mobil contract. The U.S. Exim Bank provided fund for $36,021,786.55 (guaranteed by FirstBank).

The bank provided a US$15.15 million term loan to finance the acquisition of two vessels to service a five year charter party contract awarded by Chevron Nigeria Limited to Fymak Marine and Oil Services Nigeria Limited, a wholly indigenous company.