Industry experts and stakeholders are pointing at the emerging marginal field play in the petroleum industry as the new strategy direction in meeting national economic aspirations.
According to organizers of a forum to discuss the future roles of marginal field operations scheduled to hold in London, investors and players drawn mainly from the Nigerian petroleum industry are billed to analyze the role of small and medium sized assets in driving realization of key economic goals captured economic recovery and growth programme of the government.
According to organizers of Energy & Corporate Africa, marginal field operations have become critical in increasing national production, private sector capital inflow in the oil and gas industry and indigenous participation.
The result of indigenous domination in the marginal field segment of the industry would translate to economic buoyancy, employment opportunities and rural electrification through gas-to-power.
According to the chief executive officer of Energy & Corporate Africa, Sunny Oputa, it has become paramount to be innovative in the use of cost reduction strategies to reduce CAPEX such as alternative technology, use of intellectual development solutions, subsea tiebacks, riser technology, quality lean production mechanisms, value creating methodologies and diverse creative economic options in the development of marginal and small –to large fields.
Oputa further said that some of the presentations highlights in the conference include; available assets both large and marginal fields, deep water resources, ·new frontiers, farm-in and other Investment opportunities, strategic outlook for empowering indigenous operators. economic and financial models for funding critical projects, capital and project funding for mid –caps / indigenous operators,global best practices in marginal/independent operations, investment opportunities – offshore, onshore and downstream, strategic gas projects and gas – to – power initiatives, local content and new regulations impacting oil/gas Industry, West Africa Outlook on Marginal and Independent Operations, cost reduction initiatives through innovation and technology, Conventional and Disruptive Technologies.
The conference will further articulate on the technical, economic, geopolitical and regulatory challenges impacting the development of large/marginal assets in the region, distribution, transportation and pricing of products and will through expert presentations share knowledge on the experiences of some companies on how they were able to overcome pitfalls and achieve success.