Vanguard (Lagos)

Nigeria: With $50 Million in Reserves - Oyibo Urges Govt to Provide Power

Emma Okocha

12 May 2008


Reliant Stadium, the magnificent collesium and the venue, that has seen a lot of epic battles between the Texas home teams and their rivals, was in total transformation.

The giddy numbers that watched the games were not different from the excited thousands that poured in from all over the globe to observe and to participate in the just ended Offshore Technology Conference in Houston.

The sheer splendor, the extravaganza and the grit competition among the world oil conglomerates were on display.

From the deep underwater expertise of the Scandinavians to the efficient German touch, the effervescent Canadians, to the proficient UK oil companies, even the staid theocracies of the Arabian peninsular UAE, Saudi Arabia all projected majestic colours that added to the artistic overthrow of the bubbling exhibitions.

The stands proclaimed the national colours of the UK, Canada, Saudi Arabia, Norway, Brazil etc, while at the same time showcased the type of technology in use at a specific area of operation.

Many of these operating oil companies take every opportunity to show off their new state of the art technologies, their on the site working relationship and management instruments employed to meet the social responsibilities and the needs of their immediate oil communities.

At the end of this year's conference, most members of the Nigerian delegation are going home embarrassed that Nigeria, Africa's greatest oil producer had a jejune exhibition stand, lacking in traditional flavour and evidently had not contributed to the conference.

Instead, the responsibility to flag Nigeria's flag was left to Petroleum Technology Association of Nigeria, PETAN.

This is an association of indigenous oil & gas service companies in Nigeria who hopes to avail itself of the networking opportunities with their foreign counterparts and professional colleagues from the diaspora.

President of the PETAN, Shawley Coker, told the Vanguard that his companies and others were in Houston to prove the point that the indigenous oil companies can do as much if given the the same opportunity extended to the foreign companies.

At the same time, he cautioned that the 'oil business is a lot of work, patience, and the ability to grow from small time promises, to long term ventures'.

Coker indicated that his commitment to the mission of PETAN and its collective impact would in the nearest future create wider opportunities for Nigerians who want to diversify and participate in the oil industry.

One of the few outstanding pavilions that attracted most of the participants was the Sea Petroleum & Gas group .President and CEO Stella Oduah Ogiemwonyi was satisfied that the OTC provided her company with the opportunity to fly Nigeria's flag and at the same time seek partners and the new technologies for the company's operations in Nigeria.

In an interview with the Vanguard, Dr. Levi Ajuonuma, NNPC Group General Manager in charge of the Public Affairs Division, praised the efforts of the PETAN but regretted the virtual non-participation of the Nigerian major upstream operators. He suspected that those major oil companies would engage and fill more comfortable and to join, "if the NNPC returns at the driver's seat and takes over future exhibitions."

He disclosed that unlike the situation at OTC, Nigeria's stand at the forthcoming World Petroleum Congress would be state of the art. He promised that the country's exhibition would attract the best ratings and that the country's delegation to Spain would be headed by the Petroleum Minister and other top government officials.

At the conference, former NNPC GMD, Chief Chamberlain O. Oyibo, told Vanguard that he hoped that the government delegation to the conference would go home and reassess government's commitment to providing power to enable the oil companies perform at optimum level.

On the government's continuous incapacity to fulfill this critical promise, Oyibo countered that 'we have about 50 billion dollars in our reserves and this is another opportunity to find the right companies with the best commitment and the agreed deadline to give the richest black nation a reliable and round the clock electricity'.

Meanwhile, Angola, the newest African OPEC member, may not be willing to accept the cartel's production limits of 1.9 million barrels per day.

According to Syanga Abilio, the administrator to Angolan government-owned oil company, "a quota limit to us, means, capacity for our local market."

He stressed that "while Angola, is willing to adhere to its current OPEC quota, the issue is negotiable and for a country that is itching to expand its industries and attract foreign investors, the quota limits is not written on stone."

With a population of 12.5 million, Angola has proven oil reserves of 9 million compared to Nigeria's proven 36.2 billion proven barrels.

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