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Multi-billion dollars JV cash call exit takes centre stage as Kachikwu leads discourse at Energie Platform Lecture Series

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The much talked about joint venture cash backlog between the Nigeria National Petroleum Corporation, NNPC and its JV partners will take centre stage as the Honourable Minister of State for Petroleum Resources, Dr. Ibe Emmanuel Kachikwu delivers a lecture titled “The Role of PIGB in Sustaining the Joint Venture Cash-Call Exit Agreement” at the inaugural edition of the Energie Platform Lecture Series and Nigerian Oil industry Awards billed to take place by 10am on the 16th of March, at the Grand Ball Room, of Eko hotel and suites in Lagos.

Shortly after the keynote address, he would lead a host of seasoned panellists into detailed discussions in order to allay concerns around the newly passed bill which awaits the president’s assent.

Running into billion of unpaid dollars the cash call debacle had plagued the industry for years and any attempt to tweak the recently-reached agreement between government (NNPC) and its Joint Venture partners would be met with uncertainty and further deepen investors’ apathy to the Nigerian petroleum industry. Existing and potential investors are interested in how this tiny piece of legislation dovetails into a conducive environment for continued and sustainable investment in the Nigerian oil and gas industry, hence the need to further deliberate on this crucial issue at this point in time.

Speaking on preparations towards the event, Executive producer of the Energie Platform show Mr. Yemie Adeoye stated that delegates would be thrilled in a conducive ambience of elegance and glamour befitting of an industry which serves as the mainstay of the nation’s economy.

“We have made adequate preparations to hold a very intelligent and resourceful technical session during the day, one aimed at deepening the discourse around industry development even as we are also poised to celebrate this all-important industry in hitherto unsung areas of daily oil and gas operations like HSE, CSR, Media relations, Host community development amongst others later on the same day. These are areas we have decided to honour and celebrate outstanding players in the oil and gas sector so these ones can be encouraged to contribute more to our national development while encouraging other players to do better”.

This would be the first major oil and gas industry event in Nigeria with a humanitarian angle as part proceeds of the event shall be donated towards supporting Federal Government’s effort at rehabilitating internally displaced persons (IDP) in Northern Nigeria, especially victims of the farmers/herders clash through the United Nations High Commission for Refugees, UNHCR.

Chairman Senate Committee on Upstream Petroleum, Senator Tayo Alasoadura, along with his House of Representatives’ counterpart Hon Victor Nwokolo shall sit at the panel.

Deputy Director and Head Upstream Division at the Department of Petroleum Resources, DPR, Pat Maselli shall accompany the COO Upstream Division of NNPC; Mr Bello Rabiu to further entrench government’s position at the summit. The IOCs led by the CEO of Chevron, Mr Jeffrey Ewing, His counterpart at Total E&P Mr Nicolas Terraz shall grace the panel.

Nigeria’s independent producers would also be represented at the summit by industry leaders such as the Group Managing Directors (GMD) of Aiteo Mr Chike Onyejekwe, MD of Seplat Mr Austin Avuru, and the MD of First E&P Mr Ademola Adeyemi-Bero who will all do justice to the topic at the panel session.

Other dignitaries expected include the MD of Fidelity Bank Plc, Mr. Nnamdi Okonkwo, as well as Mr Paul McGrath, MD of ExxonMobil.

The Nigerian Oil industry Awards dinner which holds same day at 6pm shall have renowned veteran comedian Alibaba standing in as the host and compere.

The event is organised by D’Alphaxristi Ltd, producers of the Energie platform show in conjunction with the Guardian newspapers Ltd and with endorsement support from Nigeria Extractive Industries Transparency Initiative, NEITI.

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