By William Emmanuel Ukpoju
The Nigeria Annual International Conference and Exhibition (NAICE), is the largest upstream Oil and Gas event in Africa; attracting industry regulators, government officials, petroleum technology professionals, and other key stakeholders. This year’s conference, held from August 5-7, 2024, at Eko Hotels & Suites in Lagos, Nigeria, focused on “Petroleum Industry Value Chain Optimization: The Inevitability of Midstream and Downstream Development.”
Conference Highlights
NAICE 2024 featured Technical Sessions, Panel Sessions, an Exhibition, a Topical Issues Workshop, a Women’s Leadership Programme, Luncheons/Industry Dinners and Awards, a Young Professionals Workshop, and a Pre-Conference Regional Section Officers Workshop and Short Courses. With over 3000 attendees, the conference provided a platform for rich professional and business networking opportunities.
Empowering Expertise
The conference offered world-class discussion panels and on-site technical/commercial training programs, enabling attendees to enhance their knowledge with over 150 technical papers in more than 24 technical disciplines or sessions. Additionally, the exhibition featured over 100 exhibitors from the energy industry, showcasing the latest technologies and innovations.
Aligning with the Petroleum Industry Act (PIA) 2021
The theme of NAICE 2024 aligns with the objectives of the Petroleum Industry Act (PIA) 2021, which aims for industry stability, growth, and sustainability. The PIA seeks to transition Nigeria from Oil-centric operations to an Oil and Gas-based industrial economy by developing the Midstream segment as a standalone entity.
Optimising the Value Chain
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), emphasised the need for optimising the entire value chain to maximise value from Nigeria’s hydrocarbon resources. The Commission’s Chief Executive, Engr. Gbenga Komolafe, represented by the Commission’s Executive Commissioner for Development and Production, Mr. Enorense Amadasu, highlighted the role of the NUPRC in the broader petroleum industry value chain and the importance of ensuring energy security and national economic development.
Evolving Landscape of the Nigerian Oil and Gas Industry
The conference addressed issues surrounding the evolving landscape of the Nigerian Oil and Gas industry, particularly in the context of International Oil Companies (IOC) divestments. The NUPRC Chief spoke on the Upstream Asset Divestment Framework, which aims to guide the seamless exit of divesting entities while promoting sustainable operations for acquiring parties.
Collaboration and Regulatory Framework
The NUPRC acknowledged its collaboration with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and other key stakeholders to enhance domestic energy security. The Commission also emphasised the need for a streamlined regulatory framework to enable industry operations across the value chain.
Decarbonisation and Environmental Sustainability
Engr. Komolafe outlined the efforts of NUPRC to implement a Regulatory Framework for Upstream Decarbonisation and Carbon Monetization, promoting Environmental, Social, and Governance (ESG) principles. He also announced the establishment of Africa’s Petroleum Regulatory Forum (AfriPERF), which aims to harmonise the continent’s oil and gas regulators, fostering collaboration and best practice dissemination.
NAICE 2024 brought to the fore, discourse on contemporary energy issues in the Oil and Gas industry, emphasising the need for optimising the petroleum industry value chain, ensuring energy security, and promoting environmental sustainability. The conference provided a platform for industry stakeholders to engage in policy discussions, innovative application of technology, and operational excellence to maximise value from hydrocarbon assets.
