Oil & Gas
By Anthony Isibor
Experts in the Nigerian oil and gas industry have listed clarity, security, access to cheap funds and conducive physical environment as some of the enablers to attracting investors to the nation’s energy sector.
The experts disclosed this while discussing the theme, “Investors Perspective: Accessing the Attractiveness of Nigeria’s Energy Sector” at the ongoing Nigerian Oil and Gas Conference in Abuja on Wednesday, July 12, 2023.
One of the panellist, Bala Wunti, Chief Upstream Investment Officer, NNPC Upstream Investment Management Services, disclosed that with certainty, clarity and collaboration between operating partners, non operating partners and service providers, the country will be able to surmount the challenges facing the industry
He urged investors to first of all play their own part and commit to the physical conditions in every regime by being ready with any project specifics.
On his part, Roger Thompson Brown, Chief Executive Officer, Saplat Energy, disclosed that some of the enablers to attract Investments include regulatory certainty, haulage rights, which include freedom to do business in communities, continuity and stability in value chain, as well as success stories in-country.
Emeka Okwuosa, Chief Executive Officer, Oilserv Limited, who was represented by Chuka Eze, Managing Director Frazimex, called for the rapid development of the countriy’s oil and gas infrastructure as an enabler, noting that investors are concerned about time and money.
He said that time included the duration before the investments begins to yield profit, while money refers to how much profit is the investment capable of yielding.
Chuka also said that security has remained a huge challenge in the industry, which has continued to discourage investors from investing in the country.
Similarly, Olumide Ogunfowora, Founding Partner, Argentil Capital Partners, called for increased physical incentives and intentional investments. According to him, creating a Nigerian energy bank as deliberate actions towards attracting investors and solving the challenges of funding.
He also called for a shift away from paradigms that are no longer beneficial to the whole ecosystem and the massive support of projects, assets, deals.
Elohor Aiboni, Managing Director, Shell Nigeria’s Exploration and Production Company, in her own summation noted that every investor wants to be assured that his capital will yield profits.
She said that legislations must be thoroughly thought through to ensure that growth is sustained.
Aiboni disclosed that the local content requirement is an added cost for doing business in Niger because the nation is already considered as a high risk country.
“The finance act has eroded the values that the PIA has created,” she said.
The six man panel moderated by Tayo Akinkunmi, MD/Country Manager Technip FCM, had Bala Wunti, Chief Upstream Investment Officer, NNPC Upstream Investment Management Services, Elohor Aiboni, Managing Director, Shell Nigeria’s Exploration and Production Company, Roger Thompson Brown, Chief Executive Officer, Saplat Energy, Olumide Ogunfowora, Founding Partner, Argentil Capital Partners, and Emeka Okwuosa, Chief Executive Officer, Oilserv Limited, who was represented by Chuka Eze, Managing Director Frazimex, as members.
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July 12 @ 16:41 GMT
Tags: NOGEnergyWeek
