15 September 2017, Sweetcrude, Lagos — The Federal Government and Ministry of Petroleum Resources will assemble upstream, midstream and downstream oil and gas professionals from around the world for its inaugural Nigeria International Petroleum Summit (NIPS) holding from 19th to 23rd February 2018 at the International Conference Centre (ICC), Abuja.
According to the Project Director, James Shindi, NIPS will present current best practices and emerging technologies to attending engineers, scientists, academia, managers, and executives.
At the same time, the conference’s exhibiting companies will feature the latest products and services, according to Shindi.
Lending his voice to the project, Minister of State for Petroleum Resources, Dr. Ibe Kachikwu said the event will explore innovations and technologies covering all things upstream, midstream and downstream.
In attendance will be key Nigerian political decision-makers, government officials and industry’s specialists from the National Oil Company, NOC, and other relevant government bodies on the one part and Chief Executive Officers, CEOs of national and international oil companies, multinationals and multilateral organizations, the academia, and other relevant stakeholders.
It would be recalled that Vice President Prof. Yemi Osinbajo, unveiled the official launch of Nigeria International Petroleum Summit 2018 in the presence of 19 African Ministers of Petroleum and delegates who attended the African Petroleum Producers Organisation (APPO) meeting in Abuja, Nigeria recently.
Apart from being a launching pad for new onshore and offshore technologies showcase among leading E&P service companies, some of the robust and anticipated offerings at the NIPS 2018 include an opportunity to witness licensing/ bid rounds, bid sign-off, major contract signing and economic diversification initiatives of the country.
Nigeria’s petroleum industry is one of the largest in Africa with proven oil and gas reserves of 37 billion barrels (bbl) and 192 trillion cubic feet respectively.
The sector contributes about 10% to the country’s Gross Domestic Product and accounts for 95% of export revenue.
Given that Nigeria’s gas reserves have remained largely untapped, the country is expected to make a shift towards becoming a major producer and exporter of gas which Shindi said the summit will provide, including an excellent business environment to interact, cross-pollinate ideas and “to make deals happen”.