Petroleum Industry Value Chain Optimization: The Inevitability of Midstream and Downstream Development

…….By SALAHUDDEEN M. TAHIR………….

It is my great pleasure to welcome you all to the Opening Ceremony of the SPE Nigeria Annual International Conference & Exhibition (NAICE) 2024, organized by the Society of Petroleum Engineers (SPE), Nigeria Council.

For over forty (40) remarkable years, every August, NAICE brings together energy industry professionals who look forward to connecting, sharing knowledge, and proffering solutions to critical issues within the sector and across society.

The Society of Petroleum Engineers (SPE) is the foremost professional association for petroleum industry practitioners worldwide, with over 127,000 members across 145 countries. In Nigeria, our paid membership is over 15,000 (including student members), spread across five sections (Lagos, Port Harcourt, Warri, Benin, and Abuja) and 47 vibrant student chapters. Our mission is to connect a global community of engineers, scientists, and related energy professionals to exchange knowledge, innovate, and advance their technical and professional competence regarding the exploration, development, and production of oil & gas as well as related energy resources towards achieving a safe, secure, and sustainable energy future. SPE’s vision is to advance the oil and gas-producing and related energy communities’ ability to meet the world’s energy needs in a safe, secure, and sustainable manner.

NAICE has maintained its position as the foremost energy conference in Sub-Saharan Africa. Over the years, the International Conference has provided our partners, sponsors, exhibitors, and conference participants with wide-ranging opportunities to grow their businesses, unveil new technologies, and deepen, as well as expand, their technical capabilities. It provides access to the industry’s key decision-makers, the latest industry innovations, best practices, state-of-the-art technologies, and investment opportunities. Ladies and gentlemen, it may interest you to note that the planning of this international conference is solely undertaken by SPE members who volunteer their time, energy, and resources to ensure its resounding success. No, I repeat no program manager is employed to deliver any part of this event. We immediately commence planning activities for the next NAICE at the end of the preceding international conference. 

NAICE 2024 Theme

After wide consultations and understudying the industry outlook, the SPE Nigeria Council resolved to beam the spotlight this year on the need to ensure a viable integrated midstream and downstream sector as the energy transition gathers towards enhancing the sustainability of the upstream oil and gas sector. The NAICE 2024 theme as resolved is, “Petroleum Industry Value Chain Optimization: The Inevitability of Midstream and Downstream Development.” To ensure sustainability, optimization of the petroleum industry value chain is necessary, and the development of the midstream and downstream sectors plays a significant role in achieving this optimization. The midstream sector involves the transportation, storage, and wholesale marketing of crude oil and natural gas, while the downstream sector focuses on refining crude oil into various petroleum products and distributing them to end consumers. Without an effective, efficient, and vibrant midstream and downstream sector, investments in the upstream become meaningless. Our God-given natural resources will forever remain in its raw state.

Overall, the optimization of the midstream and downstream sectors of the petroleum industry value chain is essential for attracting investments to the upstream, achieving operational efficiency across the value chain, and meeting the demands of the market in a cost-effective manner. It allows for the smooth flow of resources, maximizes the value of hydrocarbons, and ensures a reliable supply of petroleum products to consumers.

NAICE 2024 Program

Right from this opening ceremony, we will get insights into the state of the industry, policy direction, and strategy from government decision-makers and business leaders. The SPEI President will share his ideas from an international perspective, on the theme.

We shall all have the opportunity to listen to invited seasoned stakeholders in the Nigerian oil and gas industry deliberating at the topical issues workshop themed “The Outlook of the Nigerian Oil and Gas Industry, Post IOC Divestments and Exits: Challenges and Opportunities”.

SPE stands for Diversity and Inclusion, and this is reflected in all our activities. At NAICE we have tailored programs for Spouses and Children, young professionals in the industry, and students. A women’s leadership event is hosted specifically for the women in our industry. Other plenary sessions at this conference will delve into the economic horizontals and verticals of the petroleum industry value chain.

At the core of SPE NAICE is the technical program where academic research and special interest industry projects are presented for our education and capacity development. From the 6th to the 7th of August, over 250 top-quality peer-reviewed technical papers will be presented.  The papers were selected after an intense double-blinded peer review process by our team of industry and academic experts. These papers will eventually be published as international papers with access across the globe via the SPE OnePetro platform. At NAICE 2024, we have over 100 companies across the E&P spectrum, Renewable Energy, and other non-oil & gas industry services who will be exhibiting their latest innovations, technical products, and services.

Just yesterday and the day before, we held 14 best-in-class hybrid professional training courses and a young professionals’ fun-filled networking activity called YP Away Day. 

Over 2,000 conference in-person delegates have already registered from across the full spectrum of industry as part of this conference. 

Appreciation of Partners, Contributors and Volunteers

In closing, my profound appreciation goes to our guest speakers, panelists, facilitators, sponsors, members of the academia, and other attendees for your continued trust and support of the SPE brand. Your support fulfills SPE’s mission and vision. 

The Eko Hotels Convention Center provides a unique atmosphere for exhibitors to showcase innovations and creative solutions. Take your time to visit the exhibition space, connect, network, share and learn. 

Once again, I thank you for being an important part of SPE and NAICE 2024. Please seize this one-stop shop opportunity and soak it in.

NAICE 2025

The SPE Nigeria Annual International Conference and Exhibition NAICE 2025 is themed “Building a sustainable energy future: leveraging technology, supply chain, human resources, and policy,” and it will be held from August 4–6, 2025. Our SPE Training Courses will be held on August 2–3, 2025.

SALAHUDDEEN M. TAHIR

Chairman, Society of Petroleum Engineers (SPE), Nigeria Council

DELIVERED AT THE OPENING CEREMONY OF THE 47TH EDITION OF THE NIGERIA ANNUAL INTERNATIONAL CONFERENCE AND EXHIBITION (NAICE 2024) HELD ON AUGUST 5, 2024, AT EKO HOTEL AND SUITES, VICTORIA ISLAND, LAGOS.