SPE OLEF2020 holds March 19

Asset Acquisitions and Divestments in the Nigerian Oil and Gas Industry: Status, Challenges and Way Forward, is the theme for this year’s OLEF2020, organised by the Society of Petroleum Engineers, SPE, scheduled to be hosted by the Petroleum Technology Development Fund, PTDF in Abuja on 19th March, 2020.

The Oloibiri Lecture Series and Energy Forum (OLEF) is an annual event focused on contributing to Nigeria’s oil and gas industry policy development, in commemoration of the first commercial oil discovery in Nigeria by Shell Darcy at Oloibiri, Bayelsa State in 1956. The annual lecture series attracts participation from the government, regulatory agencies, and heads of industry practitioners at all levels, as well as other key stakeholders from around Africa.

At  the  inaugural  edition  of  Society  of  Petroleum  Engineers,  (SPE)  Nigeria  Council’s  Annual  Oloibiri Lecture Series & Energy Forum, held in June 1991, had in attendance Dr. Subroto, Secretary General of  OPEC.

Society of Petroleum Engineers, (SPE) Nigeria Council will be hosting this year’s edition of OLEF at the PTDF Tower, 2, Memorial Drive, Abuja.

During the opening of the event, two keynote addresses will be delivered on the OLEF theme by the Director, Department of Petroleum Resources (DPR), Engr. Auwalu Sarki and the Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mr. Mele Kyari. 

Thereafter, there will be a Goodwill Message & State of the Industry Address to be delivered by the Honourable Minister of State for Petroleum Resources, Chief Timipre Sylva.

The 2020 OLEF would be in two parts namely (1) the Oloibiri Lecture to be delivered by a Guest Lecturer and (2), the Energy Forum, which would witness a brief introductory remark by the PTDF Executive Secretary, Dr. Aliyu Bello Gusau, featuring discussionion where a number of panelists would be speaking on the following topics: 

SELLER PERSPECTIVE: 

Divestment of oil and Gas Assets in Nigeria:  Offering & Obtaining Fair Market Value from the Sale of Assets: Policy, Legal, Regulatory, Ethical and other challenges in the divestment process and the way forward 

BUYER PERSPECTIVE: 

Acquisition of oil and gas assets; – Deriving Optimum Value from Acquired assets; Valuation, Operational and Human Capacity Challenges and Solutions. 

LOCAL CONTENT PERSPECTIVE: 

Promoting Local Content in the Ownership and Management of Assets & Developing a Viable Supply Chain in-Country: Drawbacks & the Way Forward.

NOC PERSPECTIVE: 

Deriving Economic Value & Revenue to the State from the Operations of Divested Assets: Challenges and Opportunities for Value Optimisation.

FINANCE PERSPECTIVE: 

Financing Asset Acquisition & Development: Challenges and Opportunities.

Sponsors of the one-day programme include: Energia Ltd, Shell, PTDF and Waltersmith, in no particular order.