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Information Agency: Offshore Focus   2023-7-21

Dear colleagues,

Since last year, Nigeria’s country top management promised that there would be a predictable upstream regulatory environment to support oil and gas exploration and boost crude oil production. On last December, Nigeria launched the Mini Bid Round for 7 license blocks, which closed date is on July 28, 2023 based on latest information.

There are also several developing offshore blocks of Nigeria which have positive progress now:

Ø Bonga North Block of OML 118, operated by Shell (55%), and in partnership with TotalEnergies (13%), Exxon Mobil (20%) and Eni (13%), is going to make Final investment decision (FID) in 2023.

Ø Preowei of OML 130’s FID is also planning to get approval in 2023, which is operated by TotalEnergies E&P Nigeria Limited (24%), and in partnership with CNOOC (45% Sapetro (15%), Prime 130 (16%).

Ø Just on June 13^th, 2023, TotalEnergies also announced the Ntokon oil and gas discovery on OML102 offshore Nigeria, which “opens a promising outlook for a new tie-back development”, said by TotalEnergies.

As the country with largest population in Africa, Nigeria is always pushing forward of local content development, and has made a lot achievement. Recent data showed that Nigeria’s burgeoning youth population rated at 65%, which may be big opportunity and also challenges. There is no doubt that the Nigerian government wants to strike a balance between the employment of local talent and the maintenance of international oil investment and actual production.

What are the supporting policies and experience sharing for local content establishment? How to balance local content requirement and effective financing? Are there any effective steps for local content development after practices?

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Part of last week confirmed speakers of Government, Regulators, Associations at West Africa Offshore Upstream Conference 2023:

s Dr. Kelechi O. Ofoegbu, Executive Commissioner, Economic Regulation & Strategic Planning, Nigerian Upstream Petroleum Regulatory Commission (NUPRC)

s Abdulmalik Halilu, General Manager, Research & Statistics, Nigerian Content Development & Monitoring Board (NCDMB)

s H.E. Dr. Omar Farouk Ibrahim, General Secretary, African Petroleum Producers Organisation (APPO)

s James Dwamena Yamoah, Department Director, Petroleum Upstream, Ministry of Energy, Ghana

s Sebastião Pai Querido Gaspar Martins, President and CEO, Chairman of the Board of Directors, Sonangol E.P. 

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About the West Africa Offshore Upstream Conference 2023：

In the post-pandemic era, the rising oil prices, the discoveries of significant offshore oil and gas fields of West Africa region, and aims of accelerating monetization of regional hydrocarbon by 2050 have driven demand for active offshore upstream exploration in West Africa. Recently, Nigeria and Sierra Leone held new round of offshore bidding separately, Ghana is planning for new deep offshore bidding now. During 2019 to 2022, the West African countries such as Angola, Côte d’Ivoire, Senegal, Equatorial Guinea, Congo, Liberia, Gambia, either launched bidding round or opened for direct negotiation for untapped blocks. Meanwhile, projects in several West African countries are heading for FID in 2023. What is status of different projects in West Africa countries? What challenges and concerns of the government, NOCs and IOCs and how could involve in the projects? The West Africa Offshore Upstream Conference 2023 (December 5-6th, Abuja, Nigeria) is committed to gathering the most related players for the hottest topics and projects, and to building a comprehensive platform for information sharing, highly-level communication, and best practices showcasing.

 To Be Speaker     To Be Sponsor     To Be Exhibitor

If you are interested, you can email me (lillianl@ltsinnovate.com) or register your interest.

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