To maximize the vast opportunities presented by the new petroleum regime occasioned by the enactment of the Petroleum Industry Act (PIA), the Petroleum Technology Association of Nigeria (PETAN) sought a partnership with the Nigerian National Petroleum Company (NNPC) Ltd in providing services for acreage and asset acquisition within and outside Nigeria.

The association which serves as the umbrella body for local Oil and Gas Service Companies, and also responsible for the organization of the Annual Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) made this request when its leadership paid a visit to the Group Chief Executive Officer (GCEO) of the NNPC Ltd, Mr. Mele Kyari at the NNPC Towers.

The PETAN Chairman, Mr. Nicolas Odinuwe, who spoke on behalf of the association, congratulated the NNPC Ltd for its speedy and unprecedented transition to a limited liability company, adding that recent acquisitions by NNPC Ltd translate to more opportunities for local service companies to contribute their quota towards the growth of the industry.

He implored NNPC Limited to further acquire acreages in other climes so as to not only capitalize on the country’s expansion into gas but also make room for competent local service companies to participate in a competitive bidding process. He remarked: “we are available to provide services for some of your acquisitions, blocs, and acreages. PETAN members are available. We now have our own vehicle to provide these services that will bring every PETAN member as one to provide these services to you”.

The Chairman, who also commended the GCEO for recent efforts in curbing oil theft and pipeline vandalism, which according to him had not only boosted oil production figures and revenues, but diminished air pollution in affected communities, also used the opportunity to invite NNPC Ltd to the SAIPEC 2023 edition holding from the 13th through the 16th day of February in Lagos, as well as the Offshore Technology Conference (OTC) taking place from the 1st to the 4th day of May 2023 in Houston, Texas.

The NNPC Chief, in his response, expressed excitement on the yields that the new PIA regime has brought into the industry, noting how companies that had exited the Nigerian business landscape were returning to invest. “That means more business for members of PETAN and for all of us. We expect also that you will help us and support us through this process. Everyone is required in this process of recovery for our industry,” he said.

He described PETAN as a longstanding partner and assured the association of NNPC’s continued support, including participation at this year’s editions of SAIPEC and OTC. 

The Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) is an annual industry event hosted by PETAN, with the 2023 edition seeking to gather 4000 participants across 20 countries.