The Energy Republic February Edition 2022

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Media PartnerTHE ENERGY REPUBLICCREATING GLOBAL OPPORTUNITIES
NIGERIA OIL AND GASPIA: A New Dawn for Nigeria’s Oil andGas Industry - SylvaNigerian Content Fund exceeds $500m –Simbi Wabote12 13 14NLNG Commences Plans for Train 8 toReduce Carbon EmissionPresident Buhari: Nigeria Energy Sector Recordeda Milestone in 2021Speaking at the opening ceremony ofAfrica’s foremost energy industry event,Nigeria International Energy Summit(N.I.E.S), President Mohammadu Buhari, disclosedthat the Federal Government through the Ministryof Petroleum Resources together with all itsParastatals have done a great job sustaining thesummit since inception in 2018.“This is quite commendable and something to beproud of. More importantly, the summit has beenof great value in terms of policy input forgovernment and business development resourcefor the private sector.”The President said year 2021 was a milestone forthe Nigeria’s energy sector as it witnessed anumber of record-breaking activities. Three ofthese activities stand out: first, the successfulconclusion of the Marginal Fields Bid Round;second, the Petroleum Industry Act (PIA) seeing thelight of the day, and the third is the Decade of Gasinitiative.He made it known that both the Marginal fields bidround and the Petroleum Industry Act surmountedover two-decade challenges in the doldrums beforethey saw the light of the day. For the Decade of Gasinitiative, it holds a promise of a prosperous Nigeriafor Nigerians.“You might ask; why would the successfulconclusion of the Marginal Fields Bid Round be sucha big deal when the world is moving away fromfossil fuels? The answer is simple; awarding themarginal fields gives Nigeria the opportunity tospeed up its fossil fuel exploitation and make gooduse of the resources for the betterment of thecountry rather than abandon the huge oil and gasreserves in the ground.”He maintained that crude oil prices are on the riseagain after turning negative in April 2020 which is agreat opportunity for the country. With thePetroleum Industry Act (PIA) in place, there shouldbe no excuses.The enabling investment environment which hasbeen the bane of the industry has been taken careof by provisions in the PIA. There is now a level ofcertainty for the regulatory, administrative andfiscal framework and the legitimate grievances ofH.E Muhammadu Buhari, President of the Federal Republic of Nigeriahost communities most impacted by activities ofthe industry has been addressed by the Act.According to the President, “to demonstrate ourseriousness, this administration did not waste timewith the implementation of PIA. We moved quicklyand scrapped the existing agencies and replacedthem with new ones. We have inaugurated theirnew Chief Executives too.”He stated further: “We also ensured theincorporation of the Nigerian National PetroleumCompany Limited (NNPCL) under the Companiesand Allied Matters Act (CAMA). The NNPCL is alimited liability company now and our target is tomake it the biggest, the most capitalized and themost profitable company in the whole of Africa.”The Decade of Gas initiative as a major objective,remains the transformation of Nigeria into a gasbasedindustrialised nation through enhanced andaccelerated gas revolution. The government willensure further optimal exploitation and utilizationof the country’s vast Natural Gas resources. Giventhe country’s potential of about 600 trillion cubicfeet, Natural Gas has the enormous potential todiversify and grow Nigeria’s economy.“We are fully aware that energy transition raises thebar in terms of environmental, social andgovernance demands. We do not have to panic. Weare already building blocks and bricks that willensure seamless energy transition as the countryjoins in the race for net zero carbon emission.”Due to the country’s enormous gas potentials, thePresident added, that the current administrationdeclared Natural Gas as the transition fuel forNigeria. Without doubt, Natural Gas ticks all theboxes and Nigeria is prepared to face the challengeof the rising global demand for cleaner energysources.He urged the summit to develop smart home-growngoals for the country’s energy transition.“We are waiting to deliberate on the strategy paperfrom this summit and incorporate critical parts of itinto government’s policies where necessary.”11THE ENERGY REPUBLIC I SPECIAL EDITION
Page 1: THE ENERGYREPUBLICOfcial Magazine o
Page 4 and 5: INDUSTRY NEWSHuawei Unveils New ICT
Page 6 and 7: INDUSTRY NEWSTotalEnergies Wins Mar
Page 8 and 9: INDUSTRY NEWSEquinor to Stop New In
Page 12 and 13: NIGERIA OIL AND GASPIA: A New Dawn
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Page 19 and 20: SNEPCO INTERVIEW“Nigeria remains
Page 21 and 22: SNEPCO INTERVIEWcross-sectoral link
Page 23 and 24: MozambiqueGas & Energy Summit & Exh
Page 25 and 26: TOP STORYFarouk said the African go
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Page 29 and 30: TOP STORYstratigraphic wells."We ha
Page 31 and 32: TOP STORYassuming we build the need
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