By Adewale Sanyaolu
The Department of Petroleum Resources (DPR) will on Wednesday give status update of the organization’s activities to oil and gas key stakeholders at the Nigeria International Petroleum Summit which kicks off today in Abuja.
Its Director/Chief Executive, Auwal Sarki,will also deliver a keynote address with the theme; Independent and Marginal Oilfields Development Status in Nigeria and its Role in Gas-Powered Economy. The Director is also expected to shed more light on the $500 million raked in as signature bonuses on the fields from the first marginal field round to hold since 2002.
DPR had last week issued award letters to 57 successful 57 investors who won various fields in the 2020 marginal field bid round programme.
The Department of Petroleum Resources (DPR) says that 50% of companies shortlisted for marginal oil operations have received letters at various oil sites across the country.
A marginal field is an oil field that has been discovered and left unattended for a period of at least 10 years from the date of the first discovery.
Sarki explained that the 57 marginal fields to be explored by operators are located on land, swamps and offshore in various parts of the country.
Meanwhile, the National Petroleum Investment Management Services (NAPIMS) will use the opportunity of NIPS 2021 to also give status update of their organization’s activities to the oil and gas key stakeholders at the event.
The NAPIMS briefing will hold on Wednesday June 9, 2021 with Bala Wunti, Group General Manager, NAPIMS, delivering the keynote with the theme; Covid-19 – New Oil and Gas investment opportunities in Sub-Saharan Africa: Lessons for Nigeria IOCs, NOC, IPP. The session is critical given that new investment portfolios are expected to drive the post-COVID-19 era in the oil and gas industry.
The briefing will be followed by a panel session that will feature Victor Bandele, Deputy Managing Director, Total Energies; Bayo Ojulari, Managing Director, Shell Nigeria Exploration and Production (SNEPCO); Patricia Simon-Hart, Managing Director, Aftrac Limited and Victor Okoronkwo, Managing Director, Aiteo Eastern Exploration and Production.
The panel session that will follow the DPR briefing will feature Chike Nwosu, Managing Director/Chief Executive, Waltersmith Petroman Oil Limited; Ainojie Irune, Chief Operating Officer, Oando Energy Resources; Wale Olafisan, Managing Director/Chief Executive, Amni International Development Company, Ladi Bada, Managing Director/Chief Executive Shoreline Natural Resources Limited, John Anim, Managing Director/Chief Executive, Platform Petroleum Limited and Abel Nsa, Assitant Director, Department of Petroleum Resources.
NIPS is a federal government of Nigeria official petroleum industry event with the Federal Ministry of Petroleum Resources and all its parastatals including the NNPC, NCDMB, DPR, PEF, PTDF and PTI are joint hosts