Marginal fields B2B workshop to inspire investment in Nigeria’s upstream sector
Exploration and Production (E & P) companies hoping to participate in the next marginal oil field bid rounds in Nigeria will benefit from the learning and networking section scheduled to hold on the 19th of October 2017 at the Civic Center in Lagos Nigeria.
BusinessDay West Africa Energy and Meiracopp Nigeria Limited (MNL), Conveners of the event say they want to add structure to the methods and business of small field development in Nigeria.
Marginal oil field development has some good potential. Hence, the promoters should be well-armed with the knowledge and resources required for success. This follows strong indications that dozens of marginal oil fields are set to be farmed out in Nigeria in the near future.
As the Nigerian and International upstream observers await the commencement of the next farm out exercise in Nigeria, those wishing to partake are poised to leverage the first ever B2B event and networking session on marginal oil fields in Nigeria.
“In view of the apparent necessity for a systematic and professional approach to upstream asset acquisition in Nigeria, the workshop will have experts discussing the critical issues implicated in small field development as well as providing guidance on how to make a successful bid application.
Some of the principal issues such “where” and “how” to raise capital for field development will be addressed by financial experts and investment banks as well as issues related to proper documentations needed in the pre-and post-award stages for successful field development”, said Chijioke Mama, chief executive, Meiracopp Nigeria Limited.
These will be followed by rigorous conversations on Nigerian content planning, regulatory expectations and strategies for compliance in the marginal fields pre-bid and post award processes. In spite of the recent challenges which the oil and gas sector in Nigeria has faced the award round is expected to attract applications from local and international upstream players, even as experts argue that Nigeria remains one of the top oil and gas investment destinations in the Gulf of Guinea (GOG).
The last major marginal oil field award round in Nigeria was in 2003, which undoubtedly helped to grow the number of Nigerian firms in the upstream sector and the overall footprints of indigenous firms in the oil and gas sector.
The stories of several indigenous upstream firms such as Seplat Petroleum and Midwestern Oil and Gas has helped to buttress the fact that small oil fields can be successfully and profitably developed by indigenous firms using the right people, strategies and resources.
Big Read |