Ibe Kachikwu, Minister of State for Petroleum Resources, will on Friday, 16th March, 2018, deliver a lecture at the inaugural edition of the Energie Platform Lecture Series and Nigerian Oil industry Awards.
The lecture with the theme: “The Role of PIGB in Sustaining the Joint Venture Cash-Call Exit Agreement”, holds by 10am at the Grand Ball Room, of Eko hotel and suites in Lagos.
The lecture is a fallout of the multi-billion dollar joint venture cash backlog between the Nigeria National Petroleum Corporation, NNPC and its JV partners.
This was contained in a statement issued by the Ministry on Tuesday and made available to THE WHISTLER.
According to the statement, the minister is also expected to lead a host of seasoned panellists into detailed discussions in order to allay concerns around the newly passed bill which awaits the president’s assent.
The panellists according to the statement include, Chairman Senate Committee on Upstream Petroleum, Senator Tayo Alasoadura, his House of Representatives’ counterpart Hon Victor Nwokolo, Deputy Director and Head Upstream Division at the Department of Petroleum Resources, DPR, Pat Maselli and COO Upstream Division of NNPC; Mr Bello Rabiu.
Others are, the International Oil Companies led by the CEO of Chevron, Mr Jeffrey Ewing, His counterpart at Total E&P Mr Nicolas Terraz.
“Running into billion of unpaid dollars the cash call debacle had plagued the industry for years and any attempt to tweak the recently-reached agreement between government (NNPC) and its Joint Venture partners would be met with uncertainty and further deepen investors’ apathy to the Nigerian petroleum industry,” the statement reads in part.
“Existing and potential investors are interested in how this tiny piece of legislation dovetails into a conducive environment for continued and sustainable investment in the Nigerian oil and gas industry, hence the need to further deliberate on this crucial issue at this point in time.”
The statement further noted that the summit, “would be the first major oil and gas industry event in Nigeria with a humanitarian angle as part proceeds of the event shall be donated towards supporting Federal Government’s effort at rehabilitating internally displaced persons (IDP) in Northern Nigeria, especially victims of the farmers/herders clash through the United Nations High Commission for Refugees, UNHCR”.
Other dignitaries expected to grace the occasion include the Group Managing Directors (GMD) of Aiteo Mr Chike Onyejekwe, MD of Seplat Mr Austin Avuru, and the MD of First E&P Mr Ademola Adeyemi-Bero.
Also, MD of Fidelity Bank Plc, Mr. Nnamdi Okonkwo, as well as Mr Paul McGrath, MD of ExxonMobil.
Meanwhile, renowned veteran comedian Alibaba, will host the Nigerian Oil industry Awards dinner, which holds same day at 6pm, the statement added.
Speaking on preparations towards the event, Executive producer of the Energie Platform show Mr. Yemie Adeoye stated that delegates would be thrilled in a “conducive ambience of elegance and glamour befitting of an industry which serves as the mainstay of the nation’s economy”.
He continued, “We have made adequate preparations to hold a very intelligent and resourceful technical session during the day, one aimed at deepening the discourse around industry development even as we are also poised to celebrate this all-important industry in hitherto unsung areas of daily oil and gas operations like HSE, CSR, Media relations, Host community development amongst others later on the same day.
“These are areas we have decided to honour and celebrate outstanding players in the oil and gas sector so these ones can be encouraged to contribute more to our national development while encouraging other players to do better.”
The event is organised by D’Alphaxristi Ltd, producers of the Energie platform show in conjunction with the Guardian newspapers Ltd and with endorsement support from Nigeria Extractive Industries Transparency Initiative, NEITI.