The NCDMB will host a virtual Oil And Gas Opportunity Fair

Nigerian Oil and Gas Opportunity Fair (NOGOF) will be held virtually on May 25 and 26, 2021

The Nigerian Content Development and Monitoring Board (NCDMB) has announced that the Nigerian Oil and Gas Opportunity Fair (NOGOF) 2021 will take place virtually on May 25 and 26, 2021. 

The Executive Secretary of NCDMB, Engr. Simbi Kesiye Wabote, announced this on Tuesday at a press conference in Lagos, adding that the Board chose the virtual alternative in accordance with the Federal Government’s guidance on reducing the COVID-19 pandamic as well as the existing travel restrictions in certain countries. 

Although acknowledging that digitally organizing the conference was fresh for the Board and other stakeholders, Wabote shared enthusiasm that it allows attendees to attend from anywhere in the world without incurring logistical expenses, resulting in expanded attendance. He said that the primary goal of organizing NOGOF is to highlight the prospects that are expected to arise from the short to medium term strategies and activities of operators and project promoters operating in the Nigerian Oil and Gas industry’s upstream, midstream, and downstream sectors. 

“As the NCDMB, we must strive to offer optimism to Nigerians and the business, demonstrating that even in the midst of a pandemic like this, there are always prospects for citizens to look forward to and invest in,” he added. He also said that the display of upcoming projects by operating companies provides enough opportunity for Nigerian service companies to create relevant capacities that may be needed to implement the projects in-country, thus generating job opportunities and maintaining spend in-country. He went on to say that “hosting NOGOF is in line with the key thrusts of the Nigerian Oil and Gas Industry Content Development Act 2010 (“NOGICD Act”), which charged the NCDMB with building and supporting the development of local capacities and capabilities in the oil and gas industry, fostering institutional collaboration, maximizing Nigerian participation in oil and gas activities, and linking oil and gas shale 

He mentioned that this year’s bi-annual fair will be the third in the sequence, with the theme “Leveraging Opportunities & Synergies for Post Pandemic Recovery of Nigeria’s Oil & Gas Industry.” 

He stated that the theme recognizes the industry-wide devastation caused by the COVID-19 Pandemic and promotes substantive conversations on recovery and the path forward, especially in the sense of energy transformation. He mentioned that the fair will include technological and incentive workshops from different partners, virtual networking opportunities, an award ceremony honoring distinguished industry players, and a virtual showcase for registered organizations to display their activities and goods to delegates. 

He recalled that the inaugural NOGOF in 2017 in Uyo, Akwa Ibom State had over 1,200 delegates and 33 exhibitors, while the 2019 edition in Yenagoa, Bayelsa State had over 1500 delegates and 52 exhibitors, with more delegates expected to attend this year’s edition. 

Speaking about the effect of NOGOF on the industry over the years, Wabote stated that some of the projects announced in previous iterations, such as the Nigeria LNG Train 7, were already underway, while others were postponed by the COVID-19 pandemic and will soon begin to be implemented. 

He promised that Nigeria will have a significant local presence in the Train 7 programme. “When we conducted Train 1-6, there was very little Nigerian participation,” he said. However, the Nigerian Content and Out-of-Country Scope are now divided 50/50. Since we lack capacity in certain regions, the majority of the cryogenic fields must be completed outside of the region. However, at least half of the project’s operations must be carried out by Nigerian businesses and must take place in the region. That is the importance that will be held in the Nigerian economy. We will accomplish more in the project’s upstream sector because we have built capacities in that area.” 

Furthermore, the NCDMB chief said that the COVID-19 pandemic was the most significant test and affirmation of the need to improve local capacities in the oil and gas industries, as well as other core sectors of the economy. He said that the pandemic compelled nations to depend on domestic output to thrive, and he expressed delight that local capacities built in the oil and gas industry proved capable of sustaining crude oil production. Because of the local material, First E&P Company, an indigenous operation company, completed its project and began producing oil during the pandemic. 

“NCDMB insisted on building the network in-country. They later praised us for that decision because their platform was finished and operational right after the pandemic. If the scheme had been carried out in another nation, it may have been halted at this time.” 

In response to media inquiries, the Executive Secretary explained that Local Content adoption will not be undertaken at any expense. He maintained that any initiative has its own economics and that the return on investment must be sustainable, which is why the Board approaches the NOGICD Act with pragmatism. 

He added that building local capacities takes some time and that Nigeria Content was not about Nigerianization of personnel, rather it focusses on domestication and domiciliation of industry activities.

You can register for the event here: https://www.ncdmbnogof.org/  or via the Facebook Page here: https://www.facebook.com/nogof2021/

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