Multibillion dollars opportunities across the oil and gas industry value chain were showcased at the Nigerian Oil and Gas Opportunity Fair organized by the Nigerian Content Development and Monitoring Board (NCDMB) recently in Yenagoa, Bayelsa State.
In his remarks at the event, the Executive Secretary, NCDMB, Engr. Felix Omatsola Ogbe noted that the opportunities showcased at the fair will help in rebalancing the economy and in increasing oil and gas production. He pointed that it will further deepen indigenous participation not only in upstream services but across midstream and downstream operations.
The NCDMB boss told participants that the momentum must be sustained, and that they have to come together to support the local content stride in terms of procurement, capacity building, knowledge transfer, job creation and mentorship for upcoming investors.
“With opportunities like UBETA, Bonga North, Zabazaba coming onstream, great opportunities are provided for Nigerian companies to further demonstrate their capacity. I encourage the IOCs to make conscious effort to engage local companies in line with the provisions of our laws.” Ogbe said.
Speaking on the value of the opportunities, the Honourable Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri reiterated that opportunities showcased at the two-day event “represent multibillion-dollar opportunities across upstream, midstream, and downstream sectors.”
The Minister noted that every project has a local content dimension, “a promise to create jobs, build skills, and retain value within our borders,” while urging industry stakeholder, including exploration, production and construction (EPC) contractors and financiers, to ensure that NOGOF 2025 sparks memoranda of understanding (MOUs), partnerships, and investment decisions that would shape the narrative of Nigeria’s petroleum industry.
Senator Lokpobiri, who spoke on the theme of the Fair, “Driving Investment and Production Growth: Shaping a Sustainable Oil and Gas Industry through Indigenous Capacity Development,” pointed that Federal Government’s Renewed Hope Agenda is focused on reengineering Nigeria’s energy value chain to make it more efficient, inclusive, and attractive to both global and local investors, and is
bolstered by the Petroleum Industry Act (PIA), 2021, and the President’s Executive Orders.
According to him, “the resultant reforms have eliminated red tape, accelerated approvals and reduced contracting cycles, and also restored investor confidence. They have thus ushered in a new era where the country now offers bankable, de-risked and sustainable opportunities in a dynamic energy landscape.”
In their opportunity showcase, Chevron’s Manager, Joint Venture Facilities, Engr. John Isuku disclosed that his company is executing the Agbami turnaround maintenance and Panther Two in-fill development drilling, which he believes has a 100 per cent local opportunity. Other ongoing efforts include the Warri-Escravos project, an Agbami in-fill drilling Programme One, a mooring system upgrade on the Agbami FPSO, and Project Panther One, which is about 80 per cent completed and aims to support gas supply from 27 wells
Renaissance Africa Energy, represented by Gregory Akhibi noted that the company is expected to invest around $15 billion in four oil projects across onshore and shallow water assets. He disclosed plans for 22 export gas and six domestic gas projects, making it a likely key player in the medium term. Akhibi informed that a 32-kilometre onshore flowline installation is nearing completion alongside another 5.3-kilometre segment.
On the part of TotalEnergies as disclosed by the Nigerian Content Deputy General Manager Engr. Cyprian Ojum, a $550 million Ubeta gas project under Nigeria’s Significant Gas Development Initiative is being developed with other key undertakings including the IMA project, which seeks to boost Liquefied Natural Gas (LNG) capacity and the Ntokon development. Shell’s General Manager, Supply Chain, Engr. Charles Oranyeli, mentioned that Shell is focusing on deep water with projects like Bonga South-West Aparo (BSWA), Bonga North and Bonga Main Life Extension. These projects, estimated at over $5 billion between now and 2030, are in addition to a shallow water segment.
From SEPLAT Energy’s Ademola Adelabu, stakeholders had details on Ohaji Flare-out EPIC Project (involving monetization flared gas). Nigerian Content Opportunities are in Engineering and Design; Prefabrication; Amukpe Buffer Tank Project (requiring Engineering Design, Sand-filling, Procurement of Tank Plates, etc.); Sapele Node – CNG Mother Station Project; Well Engineering.
In his remarks, the Hon. Minister of State for Petroleum Resources (Gas), Hon. Ekperikpe Ekpo, represented by the Permanent Secretary of the Ministry, Dr. Emeka Vitalis Obi, commended NCDMB for consistently hosting the Fair, which he described as “a marketplace of opportunities.”
To the international oil companies (IOCs) and indigenous operators, his charge was that they have to revamp the industry’s human capital development initiatives.
He assured everyone that “With opportunities like Ubeta [upstream gas project], Bonga North [Project], Zabazaba [deep water project] coming on stream, great opportunities are provided for Nigerian companies to further demonstrate their capacity.”
In a goodwill message, the Governor of Bayelsa State, Senator Douye Diri, thanked the NCDMB for hosting the event, stating that the State Government aligned itself with the theme of the Fair and aspirations of the industry players.
Represented by the State Deputy Governor, Dr. Lawrence Ewhrudjakpo, the state chief executive drew attention to the PIA, arguing that it gave state governments no role but liability as several oil-producing communities are experiencing crises arising from (mis-)management of their funds.
In his remarks, the Secretary General of the African Petroleum Producers Organisation (APPO), Dr. Omar Farouk Ibrahim, were sobering words as he reminded Nigeria’s captains of industry that the rest of the continent is looking up to the country for leadership on how best to formulate and implement laws and regulations on local content.
According to him, “There is a belief that Nigeria is leading in local content development. Many countries, particularly in sub-Saharan Africa, want to come and learn from Nigeria. I believe that Nigeria needs to do more. At the level of Government, it is okay, but at the private level it is not.”
He advised Nigerian entrepreneurs to emulate their counterparts in European countries, whose companies are multinational in ownership, pointing out that Nigerian companies should allow prospective investors from other African countries to acquire some percentage of their shares to enable Nigerian companies to make inroads into those other countries.
Other goodwill messages were delivered by the immediate past Executive Secretary of the NCDMB, Engr. Simbi Kesiye Wabote, who commended the Board for continuity of NOGOF and milestones achieved; the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Agency (NMDPRA), the Managing Director, Chevron Nigeria Limited, among others.
