In order to view this page you need Flash Player 9+ support!

Get Adobe Flash player


Thursday, 04 April 2013 00:00
209 Hits

Stakeholders discuss oil and gas reforms

L-R: Ms. Feyikemi Kusoro, Project Manager, Legal Blitz; Chief Executive Officer, Mr Lere Fashola; Chief Operating Officer, Mrs Abimbola Onarinde during a press conference on the ESQ Energy Oil and Gas Summit 2013 in Lagos.When key players in the Nigeria Oil & Gas Sector meet in Lagos next week discuss reforms in the industry, they will use the forum to promote strategies for open business model, business mentorship, collaborations, ideas and knowledge sharing among industry players as well as networking among companies.

The event tagged “The ESQ Oil & Gas Conference 2013”, is the second in the series and brings together energy, finance and legal experts to examine regulatory and business issues in Oil & Gas in Nigeria.

The conference with the theme: “Beyond the Wave of Reforms: Opportunities and Challenges in Nigeria,” will particularly reveal strategies that local oil and gas players will divest their assets in on-shore fields.

Speaking to journalists on the event, Mr. Lere Fashola, CEO, Legal Blitz, publishers of ESQ Legal Practice Magazine, organisers of the summit, said the two-day conference presents a dynamic forum to promote strategies for open business model, business mentorship, collaborations, ideas and knowledge sharing among industry players and networking among companies. This year’s edition is sponsored and supported by Exxon Mobil, First Hydrocarbon Nigeria, Mart Resources Inc., Atlantic Energy, Aluko & Oyebode, ACA&S, Alliance law Firm , Advocaat Law Firm.

Speaking to journalists on the event, Mr. Lere Fashola, CEO, Legal Blitz, Publishers of ESQ Legal Practice Magazine, organisers of the summit, said the two-day conference presents a dynamic forum to promote strategies for open business model, business mentorship, collaborations, ideas and knowledge sharing among industry players and networking among companies.

According to him, “the Conference provides a key platform for stakeholders to discuss the recent challenges facing the Nigeria Oil and Gas sector including the threat of a reduction in US importation of our crude oil, the impending shale gas revolution, the sophistication of technologies for resource exploration and retrieval, and a rash of divestment of equity by some international oil companies.

The big question is: does the rising presence of local players in Oil & Gas operations hold the key to a brighter future for the country?”
Lere added that “Notwithstanding the prolonged reforms of the legal and regulatory framework governing petroleum operations in the Nigerian oil and gas industry, especially due to the non-passage of the Petroleum Industry Bill (PIB), international and local companies continue to find and take advantage of several investment opportunities.

Such opportunities arise amidst substantial legal risks and regulatory challenges. How has the industry capitalised on the opportunities and dealt with the legal risks and regulatory challenges? Looking ahead, what are the options to be considered in creating a fair and effective legal/regulatory framework in the mid and long-term to enhance investments and growth in the industry?”  
  
The summit will consist of well researched paper presentations and case studies by leading experts in Oil & Gas, Finance, Insurance and the legal profession, with participation drawn from several countries including Nigeria, the United Kingdom and South Africa.

Speakers include Engr. Ernest Nwapa, Executive Secretary, Nigerian Content Development and Monitoring Board; Dr. David Ige, Group Executive Director (Gas), Nigerian National Petroleum Corporation; Oscar Onyema  - CEO, Nigeria Stock Exchange;  Dr. Sam Amadi, Chairman, Nigeria Electricity Regulatory Commission, Mr Ibrahim Babagana, Director of Power at BPE, Dr. IbeKachikwu, Vice Chairman, Exxon Mobil, among others.