British Embassy, Nigeria
Thursday 8th February 2018
(DIT) Global Opportunities
Presentation starts at: 1530
With its large reserves of natural resources, Nigeria has the potential to build a highly prosperous economy and the UK has strong constitutional ties with Nigeria. Despite a fall in oil prices, major new deep water projects are due to take off by last quarter 2017/ first quarter 2018 notably the Bonga South West Aparo, ENI’s Zaba Zaba project and in the near future the development of the Exxon 500M barell Owowo field.
Deep offshore, Onshore, swamp and shallow water expansion projects in the tune of £34billion are also proceeding under the operatorship of IOCs and Nigeria’s leading independent oil companies including: Addax, Seplat, Oando, Niger Delta Exploration and Production, Brittania-U and First E&P. The value of contracts accessible to the UK supply chain for projects through 2017 to 2019 is in the order £4billion. As of July 2017, the export win amounts to £257m.
DIT HVO Strategy: DIT is targeting the major investment projects most likely to proceed including in the next 18 months recognising that the major awards for these projects are possible from early 2018. DIT is assisting UK companies to access these opportunities ahead of competitors and by facilitating partnerships with appropriately skilled and resourced local companies to comply with local content laws.
58 partnerships have been formed to date giving UK companies access to valuable local skills and capabilities that are able to make a real contribution to cost reduction and improved efficiencies.
DIT continues to build its relationship with the NCDMB (Nigeria’s authority for local content development and monitoring) and will be taking forward discussion and joint technology development project, Pipe mill scheme project and training and educational development.
Opportunities for the UK: Exploration and appraisal of existing assets, revamp, upgrade and maintenance of existing producing assets; major deep water development subsea and FPSO related services and equipment; gas infrastructure ( pipelines, storage) , gas fired power stations, component supply and specialist services, training & education.
Refineries construction and Gas field developments are projects that are also likely to create various opportunities for UK companies to take advantage of.
Examples of recent HVO activity: In February 2017 DIT organised a mission led by the Acting Deputy High Commissioner and Head of Energy as part of Subsea UK event which was attended by over 100 UK companies and a number of Nigerian companies; Engr. Simbi Wabote, the Executive Secretary of NCDMB was on hand to meet with delegates from GE and other UK companies looking to do business in Nigeria.
A visit to GE’s facility by the NCDMB team took place in Aberdeen and was followed by another visit of GE’s facility in Nigeria; in July 2017 DIT arranged a tailored visit programme for 18 UK companies encompassing exploration/ production technology consultancy, component supply and manufacture, subsea and pipeline technology, asset integrity, training and education to attend NDDIS where DIT will have a stand aiming to create partnerships between UK companies and Nigerians operating in the Oil and gas space in the diaspora (UK) .
These executives with companies in Nigeria will be partnering with UK companies looking to take advantage of opportunities in the Nigerian Oil and gas sector.
Companies which have been introduced to blue chip service companies, independent oil companies, IOCs and prospective partners. All are now pursing business leads that will lead to awards within the next 12 months.