NNPC Says OTC Is Blessing To Indigenous Companies

The Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Mr Andrew Yakubu, has described the Offshore Technology Conference (OTC) in Houston Texas, USA, as a blessing to indigenous oil and gas companies.
This is contained in a statement by Mr Ohi Alegbe, Group General Manager, Public Affairs Division, in Abuja.
Alegbe described the conference as a big boost which had provided platform for the acquisition of technology and diverse skills for local players, especially from Nigeria.

The Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Mr Andrew Yakubu, has described the Offshore Technology Conference (OTC) in Houston Texas, USA, as a blessing to indigenous oil and gas companies.
This is contained in a statement by Mr Ohi Alegbe, Group General Manager, Public Affairs Division, in Abuja.
Alegbe described the conference as a big boost which had provided platform for the acquisition of technology and diverse skills for local players, especially from Nigeria.
The statement quoted Yakubu as saying this after inspecting the pavilions of the various Nigerian oil and gas companies participating in the 2014 OTC.
It stated that the conference with the theme: “Asset Divestment in the Nigerian Oil and Gas Industry: Opportunities and Challenges’’, offered exposure that made the companies more efficient.
The explained that the fallout of the regular participation of Nigerian Oil and Gas Companies at the previous conferences had led to the acquisition of expertise.
 This, the statement stated, include drilling, well testing, surface maintenance, drilling services and other contemporary technology that had taken the petroleum industry to its current level.
“From what you have seen in terms of showcasing the gains of the various outing in the OTCs, you can see the level of expertise and technology our indigenous companies have acquired.
 “They are able to participate in virtually the entire spectrum of the oil and gas services. These are expertise that was purely resident outside the country in the past.
“However, from the fallout of our outings, there have been significant acquisitions of technology that have enabled our indigenous players to work without importing these technologies,” it stated.
It informed that in the last few years, the country had ramped up gas supply from 300 million standard cubic feet per day to 1500 million standard cubic feet per day.
It was as a result of the current fiscal regime introduced by the present administration, stressing that the growth by any global standard was quite impressive.
“As at today, the NNPC is the largest producer of gas for domestic use. The NNPC produces over 400 mscfpd and plans are underway to increase it by 250mscfpd before year end,” it stated.
It commended President Goodluck Jonathan and the Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, for their massive support in the sector.
It said that a lot was going on to actualise the Federal Government Gas-to-Power initiative in the country.
The Offshore Technology Conference started 45 years ago with the aim of fostering offshore technologies.
It also engages in the sharing of ideas on how to grow and develop the oil and gas industries of participating countries all around the world.