The 4th edition of the Valuechain Annual Lecture and Awards is set to hold on July 12, 2021 beginning from 9.00am at Fraser Suites, Abuja.
Organized by one of Africa’s emerging oil and gas magazine publications, the Valuechain, the theme of this year’s lecture is: “Enhancing Effective Synergy between Oil & Gas and Maritime sectors for a greater value creation.”
The event which will be graced by the Vice President, Federal Republic of Nigeria Prof. Yemi Osinbajo, SAN, GCON as the Special Guest of Honour, will also have in attendance, the Secretary-General of OPEC, His Excellency Dr. Mohammmad Sanusi Barkindo, and the Minister of State for Petroleum Resources, His Excellency Chief Timipre Sylva, both as Special Guests
The Group Managing Director of the Nigerian National Petroleum Corporation, Mallam Mele Kyari is the Keynote Speaker. Other Speakers are the Director/CEO, Department of Petroleum Resources (DPR), Engr. Sarki Auwalu, who will serve as the lead Speaker, while the Director General, NIMASA Dr. Bashir Y. Jamoh, will be the Guest Speaker.
The publisher, Valuechain Magazine, Musa Bashir Usman, in a statement ahead of the event, said the theme of the lecture was carefully chosen considering the fact that the oil & gas and maritime sectors have for decades been of strategic importance to the economic stability of the country.
According to him, the importance of the Nigerian maritime sector is attested to by its value in the upstream sector of the oil and gas industry.
He said: “Statistics shows that there are over 20,000 ships working for the oil and gas sector in Nigerian waters with an annual spend of over $600 million in the upstream sector. The oil sector spends an average of $3 billion on marine vessels. The maritime as well as the oil & gas sector therefore have greater potentials.”
In spite of the huge activities and revenue generated by these two sectors, their impact in terms of contribution to the country’s Gross Domestic Product (GDP) is abysmally low.
This, according to him is “because the challenges confronting the maritime industry and the oil and gas sector are common. Therefore, it will require shared interest backed by strong collaboration to overcome some of these challenges. The sectors have operated in relative isolation from one another.”
He said, the need to strengthen the synergy among the players in the maritime, oil and gas is further necessitated by the emergence of COVID-19 which has hit the global economy hard with many aspects of the pandemic affecting the oil, gas and maritime sectors put together.
“Operators in the sectors must collaborate not only with one another, but with their ecosystem. Sensitive government players in the maritime system must explore collaborative opportunities with their counterparts in the oil and gas sector.”
The collaborative opportunities, according to him, include security, regulation, compliance, promotion of projects investment in vessel construction, repairs and maintenance capability, capacity building/certification for Nigerians.
Usman added, “some prominent examples of the benefits that derive from collaboration include: enhanced sharing of information/data, logistics assets, projects/initiatives, technologies and improved security.”
He said stronger synergy among operators across the sectors are key to delivering game changing projects that are in the offing in Nigeria like the Nigeria LNG Limited Train 7 expansion project expected to attract $10 billion into Nigeria’s economy and new greenfield ports projects like the Ibom Deep Sea Ports, the Badagry Deep Sea Port and the Benin River Port.
“There are many other major opportunities for collaboration that are untapped. These among other industry wide opportunities are issues this event hopes to unlock,” he added.
“Nigerian economy stands to benefit tremendously if the two sectors will work as a team” he concluded.
Apart from the lecture, some notable individuals and organizations will be honoured with awards for their contributions to the development of the oil and gas industry in Nigeria.
The award recipients are: the Hon. Minister of State For Petroleum Resources, and the Group Managing Director of NNPC who will be decorated as the Champions of the Petroleum Industry Bill. The Director/CEO, DPR, Engr. Sarki Auwalu will receive the CEO of the Year award. Secretary-General, OPEC, H.E. Dr. Mohammad S. Barkindo will receive the Global Citizen of the Year Award.
For the company/organisation category: NNPC, will receive the Most Consistent Transparency-driven organisation of the year, PEF(M)B will receive most Innovative Organisation of the Year, NCDMB will receive Best Public Agency of the Year, Oilserv Limited will clinch the award of Most Reliable Project Handlers of the Year, AYM Shaffa Ltd (Overall Best Performing Marketing Company of the Year), Aero Contractors (Oil & Gas Friendly Airline of the Year).
The Valuechain Annual Lecture and Awards has since inception provided a formidable platform where agenda of national interest are set for energy industry by bringing together the Nation’s oil and gas decision makers and stakeholders on a forum to deliberate policy announcements, explore partnership opportunities and discuss the strategies that will drive the nation towards energy security and sufficiency.