The 24th Annual Africa Oil Week 2017 brings together key Governments, national oil companies, licensing agencies and senior corporate decision-makers across the African oil value chain. Dreg Waters Petroleum and logistics participates at this year’s event, as a strategic player in the value chain of the oil and gas industry.
October 26, 2017 was the third day of the week-long event, and one of the plenary sessions of the day had representative of top oil regulatory agencies from Congo, Ethiopia, Uganda, Gambia, and Nigeria. The panel was chaired by Engr. Simbi Wabote, Executive Secretary, Nigerian Content Development & Monitoring Board.
The representative of the Director of the Nigeria Department of Petroleum Resource (DPR) was the Deputy Director, Mrs. Pat Maseli, who delivered a paper tagged, “Frontier & Emerging opportunities Nigeria.” In her presentation, she noted that Nigeria is a key player in the global oil and gas chain, as the country partakes in 2.5% global oil resources and 3.8% global gas resources.
Mrs. Maseli reiterated that the DPR is coming out with modalities that will stimulate reserve growth, as they work with key players to explore and monitor these reserves. She further explained that there are 6 inland basins in Nigeria yet to be explored and Federal government has commenced activities in these reserve basin which is giving room for investors to come in. The Deputy Director concluded that the Nigeria business conditions are now very favourable to investors, as approval circle has been shortened and there are also high available incentives.
At Dreg Waters, we provide clients with a range of Industry focused services to help them navigate through the Industry’s ever changing needs. We also help our clients in the procurement of necessary licenses and permits, ranging from DPR permits to NIMASA certificates and naval clearances. Thereby acting as an intermediary between Government regulatory bodies & Oil companies.
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