The recently passed Petroleum Industry Act (PIA) represents the most comprehensive review of the legal framework for the oil and gas sector in Nigeria since the industry began commercial operations in the 1960s.
E & P companies must brace up for the opportunities and challenges aspects of the PIA present in the new era.
This was disclosed by the President of Nigerian Association of Petroleum Explorationists (NAPE) Mrs. Patricia Ochogbu, at a virtual press conference to announce the Association’s 39th Annual International Conference and Exhibition.
According to Mrs. Ochogbu, the Conference will be taking an in-depth look at the legal and regulatory aspects of the Petroleum Industry Act at its Management Session under the theme: Petroleum Industry Law: Implication for the Oil and Gas Industry and Energy Transition in Nigeria.
Chairman/ Coordinator of the Management Session Planning Committee Mr. Seye Ekun stated that the event would feature a rich blend of topics to be handled by Subject Matter Experts as follows:
Mike Sangster, MD/CEO TOTALEnergies Nigeria, to provide the Opening and Sponsor’s remarks, ‘Gbite Adeniji, Managing Partner, ENR Advisory who will be speaking on the History, Letters, Intents, Spirits, Foundational Ideas and Evolution of the PIA.
Temitope Samagbeyi, Partner, Tax, Ernst & Young Consulting – He will be addressing the theme from the tax perspective.
He will talk about tax Implications i.e., Incentives and Benefits, Royalties and General Favorable Fiscal Terms Embedded in the Petroleum Industry Law.
John Uwajumogu, Partner, Transaction Advisory Services Ernst & Young Consulting, will speak on the investment opportunities created by the new Petroleum Industry Law for investors to take advantage of.
Gail Anderson, Director, Sub-Saharan African Upstream Research, Wood Mackenzie – will give us independent and holistic perspective of the new Petroleum Industry Law – Impact on Operators (Major & Minnows) and how it compares with the other jurisdiction.
Dr Wieber Boer, CEO, All On – Will speak on New Energies and Energy Transition
NAPE Publicity Secretary, Mrs. Tunbosun Afolayan stated that the event which will holds at the Eko Hotel and Suites on Monday 16 November, 2021 will also feature an Exhibition which will showcase the latest technologies, products, services and competencies from major IOCs and Indigenous operators in the upstream sector of Nigeria’s oil and gas industry.