Financial Energy Review
The Nigerian Association of Petroleum Explorationists (NAPE) has announced that its flagship Annual Conference and Exhibition (AICE) will hold on November 17 -21, 2019. This year’s AICE is the 37th edition with the theme “Expanding Nigeria’s Petroleum Landscape: Digitalization, Innovation and Emerging New Technologies”.
The President of NAPE, Ajibola Oyebamiji, said in a press conference that this year’s conference will host speakers who are high level industry practitioners, key personnel in government and the academia, delivering technical papers.
Oyebamiji pointed out that there will be a pre-conference workshop to set the tone of the entire conference. The pre-conference workshop will dwell on ‘Emerging Technologies and the Nigerian oil and gas sector: Global Trends and Regional Peculiarities’. According to him the pre-conference workshop is important because it has always produced templates that had formed pieces of legislation. For instance Marginal fields Act and Deepwater Act were products of NAPE’s pre-conference workshops.
However, the NAPE President noted that the Association is also concern over some of the current industry challenges. He said that Nigeria is at risk of long-term disruption to oil and gas supplies, power generation, a collapse of industries and significant loss of revenue due to continued reduction in hydrocarbon exploration activities. “Reduction in hydrocarbon exploration and exploitation has dire consequences for a country like Nigeria with a mono-economy hinged on crude oil” he said.
According to him technology is the heart of all the significant achievements in the oil and gas industry. The way hydrocarbon was discovered, developed and produced, has been impacted by evolutionary technologies that have emerged since Drake well of 1859. Adding that the challenges are how far has Nigeria travelled down the technology road?
