NAPE HOLDS 36^TH ANNUAL INTERNATIONAL CONFERENCE, EXHIBITION

From L-R; Mr. Emmanuel Egbele, Publicity Secretary of NAPE, Dr. Andrew Ejayeriese, President of NAPE, Mr. Ajibola Oyebamiji, President-Elect and Chairman, Conference Planning Committee of NAPE.

F

oremost oil industry association in sub-Saharan Africa, the Nigerian Association of Petroleum Explorationist (NAPE) will from November 17^th to 22^nd in Lagos deliberate on major critical issues in a quest to address challenges in the Nigerian energy industry. The Conference holds at the Eko Hotel and Suites, Victoria Island with the theme “Evolving Strategies for a Sustainable Business in a Fluctuating Oil Price Regime.”

Speaking at a press conference in Lagos concerning the forth coming event, President of NAPE, Dr. Andrew Ejayeriese asserted that it is a known fact that oil and gas will continue to be a commodity characterised by peaks and troughs. The cyclicality of the industry is not a new phenomenon while stability in oil prices is critical in order to achieve high economic growth. The global energy market is getting increasingly more complex; with the low oil price regime, hydrocarbon exploration and exploitation are no longer as profitable as it was prior to the price decline in 2015.

Ejayeriese made it known that global demand for reliable and affordable energy will continue to rise in the foreseeable future, the world is moving toward a low carbon era. Consequently, oil and gas companies will find it expedient to review long term strategies and innovate, recognising the possibility that oil is on the brink of suffering a fate similar to coal.

He stated further that although the global economy continues to recover, growth has been slower than anticipated. Oil price fluctuations are strong determinants of inflation rate and unemployment levels which in turn impact the growth rate of a nation’s economy.

According to Ejayeriese, even though significant achievements have been recorded in the management of Nigeria’s oil and gas resources compared to recent past, NAPE believes that to build a more diversified and resilient economy, government’s plan must include finding and enhancing new opportunities and prudently allocating its revenue which comes mainly from oil and gas to the development of other key sectors of the economy. He advised government to offer oil and gas investors an attractive environment by reforming the regulatory, fiscal and licensing systems.

The NAPE president said the pre-conference Workshop is expected to set the tone for the entire Conference. He was of the view that key pieces of legislation such as the Marginal Fields Act and the Nigerian Content Act were all based on templates that came out of previous NAPE Pre-conference Workshop Communiques. The Pre-conference workshop holds on November 19^th with the theme “Securing the Nigerian Economy with a Diversified Energy Mix.” It will feature several speakers of high repute.   

Besides, the opening ceremony of NAPE’s flagship annual event will take place on November 20^th and the Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu will be the Special Guest of Honour. Also, the event will attract key government officials, captains of industry, the legislature and academia.

Ejayesiere revealed that the All Convention Luncheon will feature speakers who have distinguished themselves in various spheres of human endeavours locally and globally. There will be Management Session and the Keynote paper will be delivered by Dr. Maikanti Baru, Group Managing Director of the Nigerian National Petroleum Corporation. This will also feature distinguished Panel of Discussants.

The Exhibition will showcase the latest technologies, products, services and competencies from major IOCs, Indigenous operators, service companies among others. While financial institutions have dedicated pavilion as part of the association’s wider inclusion.

The NAPE conference will throw its searchlight on survival strategies for petroleum exploration and exploitation in a challenging environment and also examine effectiveness in existing policies to drive growth in the oil and gas industry so as to come up with initiatives for development of road maps and new policy initiatives. Technical Sub-themes such as: Beyond Nigeria’s JV Fiscal Policy Change, Gas Monetization Projects- An Alternative to Generating Revenue for Nigeria, Oil Price Prediction-Ten-Year Price Forecasting Modelling, Developing Human Resources for Effective Leadership in exploration and production among other issues will be dissected.

The conference will showcase African Night displaying Africa’s culture, tradition and entertainment. There will be Awards and Recognition Night which is the biggest social event of the conference. The Awards Night will also celebrate high performing companies in the oil and gas industry whose commitment has resulted in achievements that are an inspiration to the membership of NAPE.