The African Energy Chamber (AEC) has endorsed the Nigeria International Petroleum Summit (NIPS), to be held in Abuja’s International Conference Centre in January 2019.
AEC members, which include the majority of the international oil companies (IOCs), services companies and many African players will be in Nigeria to participate in the summit. The attending investor groups among the chamber’s members represent billions of dollar worth of inbound investments to the Nigerian oil & gas sector.
According to a recent statement, its members want to invest and NIPS is one of the best platforms to expand the intra-Africa energy cooperation, promote investments and generate new joint-venture and cooperation opportunities in Africa’s biggest oil producing market.
“Foreign investment into Nigeria’s oil & gas sector is a game changer for Nigerian and African businesses and the economy. We continue to be excited by this opportunity because many investors will gain a better understanding of today’s most critical issues, challenges and opportunities facing the Nigerian oil & gas sector at this industry-driven conference. While there is a focus on oil, Nigeria is more of a gas economy and stands to do more with gas” declared Executive Chairman of the Chamber NJ Ayuk. “Nigeria has come out of its recession stronger and with a continuous push towards reforming its business environment and remains Africa’s biggest hydrocarbons market. Its ongoing reforms have strengthened its position as Africa’s prime oil & gas investment destination, and the NIPS will be the perfect platform to advance the country and its investors’ business agenda,” he added.
“The NIPS 2019 is designed to be Africa’s largest and most important industry platform,” said Nigeria’s Minister of State for Petroleum Resources Dr. Emmanuel Ibe Kachikwu in a message addressed to all participants. “It will provide linkage to the world for engineering and technological breakthroughs, major contract sign offs and side events.”
With an upcoming gas flare commercialization bid round, the Chamber notably invites stakeholders within the gas value chain to actively participate in the summit and seek opportunities within Nigeria’s untapped gas value chain. From exploration & production to gas infrastructure, commercialization and distribution, Nigeria is the next gas frontier in Africa and offers tremendous potential for investment.