February 19, 2018 10.15AM / Proshare WebTV
Secretary General of the Organization of the Petroleum Exporting Countries
(OPEC), Dr. Mohammed Sanusi Barkindo, will be leading other global oil and gas
industry leaders to participate in the Nigeria International Petroleum Summit
was disclosed by the Minister of State for Petroleum Resources, Dr. Ibe
Kachikwu, at a world press conference in Abuja.
minister said the summit, which is patterned after the annual Offshore Technology
Conference (OTC) which holds in Houston, Texas, is designed to attract new
investments and showcase the latest technologies that could be adopted for the
upstream, midstream and downstream sectors to ensure cost management in the
Nigerian oil and gas industry.
said the maiden edition of the NIPS which is scheduled to hold from 18th to
22nd February, 2018, would provide a veritable platform for the international
oil companies and other relevant stakeholders to brainstorm on ways to move the
Nigerian petroleum sector forward.
Kachikwu noted that Nigeria was endowed with a lot of requisite skill sets that
contributed enormously to the actualization of the Egina Floating Production
and Storage Offloading (FPSO) facility which, according to him, is the largest
FPSO ever installed in Nigeria, adding that the FPSO would contribute its
quota to national daily production.
said President Muhammadu Buhari was pleased with the new feats being achieved
in the petroleum sector, noting that Vice President Yemi Osinbajo was expected
to declare the summit open next Monday 19th February, 2018.
Minister of State for Petroleum Resources informed that the NIPS would attract
participants from OPEC member countries and other international stakeholders
across the globe.
said the summit which would be an annual event was being held at the instance
of the Ministry of Petroleum Resources with the collaboration of all the
Departments and Agencies under it.
an update on the proposed refinery upgrade, Dr. Kachikwu informed that efforts
were on to finalize on the private sector financiers for the three refineries
in Port Harcourt, Warri and Kaduna, assuring that by 2019, Nigeria would become
a net exporter of petroleum products.
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