NIGERIA Invest in 2012-13 - Newsdesk Media

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78 oil, gas and minerals Workers on a Nigerian oil rig contribute to the national output of around 2.2 million barrels of oil each day UK-listed resources company Petrofac also thought that it was worth the risk, later buying a stake in Seven. Ayman Asfari, group chief executive of Petrofac, said: “Nigeria is a high-growth market, where we have been seeking commercial opportunities for some years. Seven Energy combines a very attractive market position with considerable development upside.” The joint ventures are very different from those seen in the past, when blocks were often awarded to friends of the incumbent government with little or no industry experience. Nowadays, the domestic firms usually have very strong credentials in their own right. A mini-licensing round held last year, in which Shell Petroleum Development Company (SPDC) tried to divest its interest in four blocks, attracted a host of bidders, with several Nigerian firms going it alone. These included Vertex, a company made up of around a dozen former officials from NNPC, backed purely by African banks. Prices in the bidding rose higher and higher, with several experienced companies withdrawing as they believed the competition had become too stiff. The bidding then hit a stumbling block as NNPC decided that it wanted to use a clause in the original joint-venture agreement with SPDC, allowing it to take over day-to-day operatorship of the blocks in the event of a sale. invest in nigeria 2012-13 This caused some other experienced Nigerian companies to balk. Historically, NNPC has found it almost impossible to fund its share of joint ventures in any timely fashion, and the best Nigerian engineering staff are often attracted to work for foreign companies, leaving NNPC’s exploration and production section with a poor reputation. Some deals did go ahead, including the sale of OML 26 to First Hydrocarbon Nigeria, a joint venture between UK-listed oil company Afren and a number of Nigerian investors. The firm paid $148 million for the block, which it believes has gross recoverable and contingent resources of 320 million barrels of crude oil (bbl) and another 615 million barrels of oil equivalent (boe) of unrisked prospective resources. If Nigeria remains committed to operating onshore acreage sold off by the majors this will remain a serious stumbling block, with a significant percentage of companies unwilling to risk this partnership. These deals pale into insignificance compared to an offer made back in 2009 by Chinese state-controlled oil giant CNOOC, which was scouring the continent for supplies to meet its growing energy demands. In meetings held with the office of then president Umaru Yar’Adua, it offered to buy a 49 per cent stake of 23 mostly onshore blocks for more than $30 billion.
Empowering Nigeria Seven Energy International is an independent Nigerian exploration and production company exclusively focused onshore in the resource rich Niger Delta. Our vision is to be a leading gas supplier to domestic industry and regional electricity generators and we achieve this by being dynamic and innovative across the gas supply chain from field to demand hub. We are successfully providing opportunities for our industrial partners and creating value for our shareholders and investors. To find out more visit www.sevenenergy.com
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Invest in NIGERIA 2012-13 Published
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Mubadala is an investment and devel
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Invest in NIGERIA 2012-13 Editor La
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Trade Facilitation/Development Init
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Contents Forewords 16 21 The Policy
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44 Promoting free and fair election
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120 Industrial Infrastructure 124 1
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16 FOREWORD Goodluck Ebele Jonathan
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Ahmadu Bello University, Zaria, Nig
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since 1989 Rotary kiln incinerators
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Pushing boundaries An emerging lead
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24 the policy agenda Realising Nige
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Foreign policy and the investment e
Page 28 and 29: 28 the policy agenda prospects of l
Page 30 and 31: www.nosakgroup.com Corporate Offi c
Page 32 and 33: 32 the policy agenda Democracy and
Page 34 and 35: Sustainable business, social repons
Page 36 and 37: 36 the policy agenda There is no do
Page 38 and 39: 38 the policy agenda Working to ach
Page 40 and 41: 40 the policy agenda they had sexua
Page 42 and 43: 42 the policy agenda “The improve
Page 44 and 45: 44 the policy agenda Promoting free
Page 46 and 47: 46 the policy agenda The April 2011
Page 48 and 49: 48 the economy and finance Nigeria
Page 50 and 51: Murphy Shipping…………Bridging
Page 52 and 53: 52 the economy and finance has been
Page 54 and 55: Since 1994, Nigeria Inter-Bank Sett
Page 56 and 57: 56 the economy and finance Facts an
Page 58: 58 the economy and finance petroleu
Page 61 and 62: Driving growth through Mobile Money
Page 63 and 64: elevating the country to the upper
Page 65 and 66: Zenith Bank plc Zenith Bank was est
Page 67 and 68: the economy and finance 67 Public r
Page 69 and 70: Improving Nigeria’s electricity n
Page 71 and 72: supply of electricity, though, will
Page 73 and 74: oil, gas and minerals 73 Nigeria’
Page 75 and 76: aBc Human development consultants l
Page 77: oil, gas and minerals 77 The decisi
Page 81 and 82: Reliable partner in NIGERIA JASCON
Page 83 and 84: Crude oil exports by destination, 2
Page 85 and 86: The leading indigenous suppliers of
Page 87 and 88: DrillPet International Limited (DIL
Page 89 and 90: Step on the gas The Nigerian Gas Ma
Page 91 and 92: The original GMP proposed a gas inf
Page 93 and 94: Find out more at www.oriental-er.co
Page 95 and 96: To encourage the participation of l
Page 97 and 98: NEITI: the Nigerian Extractive Indu
Page 99 and 100: Cakasa (Nigeria) Company Limited St
Page 101 and 102: The government has ambitious plans
Page 103 and 104: Potential for growth The Nigerian g
Page 105 and 106: Oil and the Niger Delta Nigeria’s
Page 107 and 108: Shell estimates it has an additiona
Page 109 and 110: High Voltage transmission sending s
Page 111 and 112: Despite being rich in natural resou
Page 113 and 114: HEAD OFFICE POWER GENERATION TRANSM
Page 115 and 116: former university academic addresse
Page 117 and 118: Although efforts to bring electrici
Page 119 and 120: www.ilf.com ILF - Engineering Excel
Page 121 and 122: of one gigawatt coal-fired power pl
Page 123 and 124: © 2012 Caterpillar All Rights Rese
Page 125 and 126: The National Economic Development P
Page 127 and 128: Vehicle imports General cargo Conta
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Engineering & Construction STEMCO,
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132 INDUSTRIAL INFRASTRUCTURE Suppo
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134 INDUSTRIAL INFRASTRUCTURE One o
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136 SOCIAL INFRASTRUCTURE Populatio
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138 SOCIAL INFRASTRUCTURE Tackling
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140 SOCIAL INFRASTRUCTURE the chanc
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142 SOCIAL INFRASTRUCTURE Healthcar
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144 SOCIAL INFRASTRUCTURE Obstetric
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146 agriculture and water Growing t
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Electrical, Mechanical, Civil, Wate
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150 agriculture and water sesame an
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Siat Group Investment Company in Tr
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154 agriculture and water The devel
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156 media, tourism aNd culture A ri
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158 media, tourism aNd culture The
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160 MEDIA, TOURISM AND CULTURE A ci
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162 MEDIA, TOURISM AND CULTURE Top
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164 DIRECTORY Government ministries
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166 DIRECTORY Tel: 236 0521, 236 05
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168 DIRECTORY United States of Amer
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170 Index of advertisers Aero .....
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ffordability - innovation eliabilit
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