Oil and gas stakeholders call for viable investment environment

Stakeholders in the oil and gas sector have called for collaboration and policy changes that could attract viable investments to the sector.

The stakeholders were present at the Nigerian Oil and Gas (NOG) Conference, which held on Thursday in Abuja. The four-day conference, which started on Feb. 27, had about 6,000 delegates and 50 exhibitors.

Dada Thomas, the Managing Director, Frontier Energy Ltd., said that the conference was a platform for the different actors – whether financial sector operator, midstream operator, upstream and services companies – to address challenging issues.

According to him, some of the issues include NNPC commercial strategy and priorities and the impact of legislative amendments relating to oil and gas industry.

“ It also dwelled in tackling crude oil theft and pipeline vandalism through stakeholder collaboration and how policy changes can create an attractive and viable investment environment.

“The exhibition is a big opportunity for suppliers to exhibit their services for networking.

“ It is a unique opportunity for networking. Many businesses have taken off from here, so these are the advantages of the conference,’’ he said.

Meka Olowola,  the Managing Partner, Zenera Consulting, said that the conference offered a company the opportunities to access the industry’s most influential decision makers.

“This annual event continues to capture a wide variety of issues, set business agendas and creates a forum for discussion for the international energy industry.

“I stand to be corrected, if any other group has been as successful as CWC with the various capacity building programmes initiated by them for the Nigerian oil and gas industry.

“ I would like to thank the organisers of Nigeria oil and gas conference for this annual event which has grown to be the most prestigious assemblage of experts and investors interested in the Nigerian oil business and its environment,’’ he said.

Marafa Garba, the Chairman, Senate Committee on Downstream, said that the 16th edition of the conference was the most successful conference so far.

Garba said that the conference created opportunity to interact with major stakeholders and to share thoughts on environmental issues arising from oil exploration and production activities.

He said that it also addressed the issue of continued dependence on carbon-based fuel which had aggravated environmental degradation through soil, air and water pollution.

He said other factors included ozone layer depletion leading to climate change, waste generation, environmental health concerns and disruption of balance in the ecosystem.

“I would like to congratulate each delegate, each exhibitor and more importantly, the oil and gas industry in Nigeria for what we are seeing in this country.

“This has also been an encouragement for NNPC to continue to join other players in the industry, support the annual conference organised by CWC Group.

“The conference has proven to be the most veritable engagement platform for policy makers and operators in the sector,’’ he said.