NAPE charges oil companies to see opportunities in PIA
The President of the Nigerian Association of Petroleum Explorationists (NAPE), Mrs. Patricia Ochogbu has implored oil exploration and production companies to brace up for the opportunities and challenges in the new era created by the birth of Petroleum Industry Act in the country.
She maintained that the birth of Petroleum Industry Act (PIA) represents the most comprehensive review of the legal framework for the oil and gas sector in Nigeria since the industry began commercial operations in the 1960s.
Ochogbu spoke at a virtual press conference on Friday to announce the Association’s 39th Annual International Conference and Exhibition billed to hold in Lagos next month.
According to her, the confab will take an in-depth look at the legal and regulatory aspects of the Petroleum Industry Act at its management session under the theme, ‘Petroleum Industry Law: Implication for the Oil and Gas Industry and Energy Transition in Nigeria.’
Shedding more light on the conference, Chairman/ Coordinator of the Management Session Planning Committee Mr. Seye Ekun stated that the event would feature a rich blend of topics which would be handled by experts in the oil and gas industry.
According to him, Mike Sangster, MD/CEO TOTALEnergies Nigeria, will provide the opening and sponsor’s remarks. ‘Gbite Adeniji, Managing Partner, ENR Advisory, will speak on the history, letters, intents, spirits, foundational ideas and evolution of the PIA.
Temitope Samagbeyi, Partner, Tax, Ernst & Young Consulting, he said, will be addressing the theme from the tax perspective.
He added: “He will talk about tax Implications i.e. Incentives and Benefits, Royalties and General Favourable Fiscal Terms Embedded in the Petroleum Industry Law.”
He also said John Uwajumogu, Partner, Transaction Advisory Services Ernst & Young Consulting, will speak on the investment opportunities created by the new Petroleum Industry Law for investors to take advantage of, while Gail Anderson, Director, Sub-Saharan African Upstream Research, Wood Mackenzie – will provide independent and holistic perspective of the new Petroleum Industry Law – Impact on Operators (Major & Minnows) and how it compares with the other jurisdiction.
He added that Dr Wieber Boer, CEO, All On – Will speak on New Energies and Energy Transition.
NAPE Publicity Secretary, Mrs. Tunbosun Afolayan stated that the event which holds at the Eko Hotel and Suites on Monday 16 November, 2021 will also feature an exhibition which will showcase the latest technologies, products, services and competencies from major IOCs and Indigenous operators in the upstream sector of Nigeria’s oil and gas industry.
