The 2nd edition of the NOGOF “Maximizing Investments in the Nigerian Oil and Gas for the Benefit of the Nigerian People,” was held at the new NCDMB Headquarters, Oxbow Lake, Yenogoa, Bayelsa, Nigeria on the 4th and 5th of April, 2019.
The 2 days conference started with a welcome barbecue, 13 opportunity presentations, 7 insightful panel sessions, 98 exhibiting companies and awards ceremony to celebrate companies with the most impactful local content.
The conference was honored by his excellency, Hon. Seriake Dickson, Governor of Bayelsa state, who commended the efforts of the host, Nigerian Content Development and monitoring board, NCDMB in driving local content in the Nigerian Oil and Gas Industry.
The keynote speaker, Honourable Minister of state for Petroleum, Dr Ibe Kachikwu advised the participants to urgently refocus efforts on possible innovative solutions that will deliver investment opportunities and also admonished indigenous Oil Companies to take Over IOCs’ operations, he also stated that the changes in the global oil and gas industry are presently challenging the present exploration and investment strategies.
The Minister also commended the executive secretary of NCDMB for its numerous achievements, especially for the construction of fair venue, the new NCDMB headquarters.
The Executive Secretary of NCDMB, Engr.Simbi Wabote in his welcome address, said the board identified over 80 oil and gas opportunites that would be developed by major international and indigenous operating companies, with the estimated cumulative value of projects exceeding $100bn.
He also launched the Compendium of Nigerian Content Opportunities in the Oil and gas industry, the compendium contains projects and opportunities that covers the upstream, midstream and downstream sectors of the Nigerian oil and gas sectors. The compendium was created to provide a database of Nigerian content opportunities to help indigenous and potential investors prepare, improve their capacities to participate in available and upcoming projects. Engr.Simbi Wabote, added that the compendium gives the industry a five year outlook and will enable stakeholders key into opportunities.
The opportunity fair pointed out that infrastructure is a key element of the oil and gas industry and it affects the extent to which the value chain in the sector can be properly harnessed.
NOGOF 2019 expanded a plethora of opportunities for indigenous companies to operate in the oil and gas sector. Opportunities like ogistics, repair and maintenance, engineering, spare part and servicing, and the running of lube bays or convenience stores at oil service stations.
The fair highlighted that local content can be developed by ascertaining the capacity of fabrication yards in Nigeria and such content should be utilized through collaborative action of government and stakeholders, action as well as decisive control of the upstream, downstream and midstream sectors is required on the part of all players to effectively harness the potential and value chain within the sector.
The Nigerian Oil and Gas Fair, NOGOF 2019 attracted over 1,500 participants; delegates, exhibitors, speakers, and media
Sponsors includes NNPC, Samsung Heavy Industries Nigeria, Dangote Group, Marine Platforms Limited, Aiteo Eastern Exploration & Production Company Limited, Shell Petroleum Development Company, Nigeria Agip Oil Company, OES/ODENL Energy, UBA Group, Exxon Mobil.
The next Nigerian Oil and Gas Opportunity Fair is slated for 8th– 9thApril, 2021