The Abu Dhabi International Petroleum Exhibition and Conference kicked off yesterday, Monday. This year’s event, unlike previous years, has a session with an African focus. It is coming just after a busy week where the Africa Oil Week and the Africa Investment Forum just ended in South Africa. AOW and AIF events witnessed investors throng into the continent in search of opportunities not just in the oil sector but across other interest areas. ADIPEC, with its larger audience usually registers the presence of over a hundred thousand industry professionals and is arguably one of the biggest gathering for oil and gas professionals in the world.
ADIPEC creates an avenue where buyers meet suppliers, visitors meet global trade professionals, delegates meet great industry leaders and exhibitors will meet prospect clients outside their margin.
Meanwhile the executive secretary of the Nigerian Content Development and Monitoring Board NCDMB, Mr Simbi Wabote is pushing the local content boundaries even further by signing yet another Service Level Agreement, SLA with a key industry stakeholder, the Indigenous Petroleum Producers Group IPPG. The several agreements will bring about a shortening of the protracted contracting cycle from an average 3 years to 3 months.
He further challenged the president of the group and its members to come up with bankable projects, and that the board will gladly oblige them, the same way it treated Waltersmith.
With a resolve to fulfil its statutory obligation, the Director of the Department of Petroleum Resources, DPR, Mr Mordecai Ladan has recently launched the Value Monitoring and Benchmarking (VMB). He explained that the gesture has come to stay and that it will monitor and benchmark industry cost performance with transparent and standardised digital platform, hence, stimulate sustainable competitiveness for growth and development.
From South Africa, Eskom’s spokesman Khulu Phasiwe, has said there’s a risk of power cuts in the coming weeks. Out of the 11 coal-fired power stations, five of them have less than 10 days of coal stock as against the mandatory 20 days stock.
Ghana’s Petroleum Commission plans to up its local content mix by holding a conference specifically to address the gaps come November 29. The period can be deemed as strategic, coming at a crucial time when it has just conducted its first bid round for its assets. This should welcome increased participation from indigent companies. Of course, the multiplier effect should trickle down and impact the average Ghanaian.
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