Embracing Inevitability of Midstream and Downstream Development
Prioritizing adoption of digital technologies and data analytics to improve operational efficiency
Addressing delegates at the 47th Nigeria Annual International Conference and Exhibition (NAICE) 2024, the Permanent Secretary of Ministry of Petroleum Resources, Ambassador Nicholas Agbo Ella, commended the organiser’s for the theme of this year’s conference, “Petroleum Industry Value Chain Optimization: The Inevitability of Midstream and Downstream Development.” He said it both timely and essential for the future of the industry.
Ella submitted that the oil industry must acknowledge the critical role that the midstream and downstream sectors play in overall value chain of the petroleum industry.
The optimization of these sectors is not just an option but a necessity for enhancing efficiency, ensuring sustainability, and maintaining competitive edge in the global market.
“Our nation’s petroleum industry has long been a cornerstone of our economy, contributing significantly to national revenue, job creation, and industrial growth.”
However, the evolving energy landscape presents new challenges and opportunities that require a comprehensive and integrated approach.
Technological advancements, regulatory frameworks, and strategic partnerships are key enablers in driving the transformation of our midstream and downstream sectors.
It is imperative that operators leverage these advancements to enhance the profitability and environmental performance of the industry.
“By doing so, we can ensure that our petroleum resources are utilized most efficiently and sustainably.”
According to Agbo, through the Ministry of Petroleum Resources, the Nigerian government is committed to creating an enabling environment for investment and innovation in the midstream and downstream sectors.
The Ministry is actively working on policies and initiatives to attract local and international investments, foster technological innovation, and ensure regulatory compliance.
“One of our key focus areas is the development of infrastructure to support the efficient transportation, processing, and distribution of petroleum products.
This includes the expansion and modernization of pipelines, storage facilities, and refining capacity to meet both domestic and international demand.”
The Permanent Secretary stated further that prioritizing adoption of digital technologies and data analytics to improve operational efficiency and decision-making processes in the industry.
Furthermore, the Ministry is committed to promoting local content and capacity building to ensure that Nigerian companies and professionals play a leading role in the midstream and downstream sectors.
It recognised the importance of developing a skilled workforce that can drive innovation and maintain the highest standards of safety and environmental stewardship.
“The Young Professionals’ Workshop and the Women Leadership Programme, highlighted at this conference, are commendable initiatives that align with our goals of inclusivity and leadership development.”
Ella added that it is essential to equip young professionals and female leaders with the knowledge, skills, and opportunities to thrive in the evolving petroleum landscape.
The collaboration between industry, academia, and government is crucial for achieving collective objectives and fostering a culture of continuous improvement.
He encouraged all participants to engage actively in the discussions, share insights, and explore opportunities for collaboration during this conference.
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“Let us work together to unlock the full potential of our midstream and downstream sectors and drive the sustainable development of our petroleum industry.”
Ella also expressed gratitude to the Society of Petroleum Engineers (Nigeria Council) for organizing the significant event adding that its efforts in bringing together industry leaders, professionals, and stakeholders are instrumental in shaping the future of our industry.
“Together, we can achieve great milestones and ensure the continued growth and prosperity of Nigeria’s petroleum industry.”
