The Managing Director of Omiti Engineering, Nduka Nwosu has said that the new licensing round for 19 oil blocks will unlock opportunites for indigenous firms.The MD said this at the launch of the bid round by the Minister of Petroleum Resources, Heineken Lokpobiri and Nigerina Upstream Petroleum Regulatory Commission’s Chief Executive, Gbenga Komolafe.
Omiti Engineering is an indigenous oil & gas services company based in Lagos. The NUPRC listed 12 new blocks- PPL 300 (continental shelf), PPL 300-CS; PPL 301-CS; PPL 3008; PPL 3009; PPL 2001; PPL 2002; PML 51; PPL 267; PPL 268; PPL 269; PPL 270; and PPL 271 and seven old blocks. The Commission’s Chief Executive, Komolafe said the 12 acreages will be offered on closed bid based on a fair, transparent, and competitive bidding process in line with section 73 of the Petroleum Industry Act (PIA). Omiti said, “I would say that the licensing round for 19 oil blocks across the country is a welcome activity. If all the guidelines set are followed, the process would be applauded, and this will foster increased investment opportunities as well as provide more job opportunities to Nigerians.
“Indigenous companies are highly favored to take up some blocks by collaborating with international companies with strong financial strength having a better understanding of the Oil blocks and their immediate communities where it is located.” According to him, recent regulations by the NUPRC and the local content board have opened up opprotunities for indigenous companies to undertake large oil and gas projects.
Nwosu believes that the new licensing round would also foster partnership with International Oil Companies (IOCs). He said, “The Nigerian content has already set a template of Nigerian content participation in any project, and this has positioned the indigenous companies to be involved in the divestment by the IOCs “With the current leadership of the Nigerian petroleum ministry and the recent directives of the president, I believe NUPRC are properly guided and are their regulations would improve and progress the industry positively.”
The MD said that the Nigerian Government could continue to support indigenous companies by ensuring that the Nigerian content policy is duly monitored and implemented. “This would gradually put the indigenous companies in the lead in a couple of years to explore, produce and manage oil and gas projects,” he said. Nduka said that his company’s expectation at this conference is to go back with new technologies of exploring, managing oil and gas projects. “Our expectation at this conference is to go back with new technologies of exploring and managing oil and gas projects as well as increasing our industry networks for future business collaboration,” he said.
Source: thewhistler.ng