Alpha Group of Companies’ Chairman/CEO, Mr. Sheikh Mohamed Bayorh, and senior executives from leading prominent companies in UAE welcomed the Nigerian Minister of State Petroleum Resources, Honorable Dr. Emmanuel Kachikwu, and senior executives from the Nigerian National Petroleum Company (NNPC) this week at the Burj Al Arab.
The Honorable Dr. Emmanuel Kachikwu, Minister of State Petroleum Resources of Nigeria and senior NNPC officials met with a diverse group of government officials and leading energy companies to debate potential investment opportunities in Nigeria. Delegation from UAE included HE Suhail Al Mazrouei, Minister of Energy and Chairman of IPIC: senior executives from ENOC and Al Ghurair Group. Additionally, HE Dr. Kachikwu met with other international global energy companies including China National Petroleum Corporation (CNPC) and DSSI.
“We were extremely honored to organize and host His Excellency Dr. Kachikwu's inaugural trip to UAE as the Minister of State Petroleum Resources after being sworn-in earlier this month to meet with our distinguished investors and partners in the region. We commend him greatly for his keen vision and leadership in transforming the oil and gas sector in Nigeria and increasing international investor’s confidence in exploring opportunities in working with the Nigerian National Petroleum Corporation,” said Sheikh Mohamed Bayorh.
“We believe there are tremendous opportunities in the Nigerian oil and gas sector and look forward to doing business with the new administration,” said Mr. Wang Baoji- President CNPC Middle East and Africa.
Also the delegation from NNPC had an opportunity to hear alternative financing proposals for their expansion plans by various leading finance houses in UAE [including ME-A and Euro American].
“We have a plan called ‘20 Fixes’ to increase NNPC’s profitability and one of them is to increase our refining capacity to reduce foreign imports,” said HE Dr. Kachikwu in response to a question about Nigerian oil sector priorities.
“We believe we can share our refinery operating experience with NNPC; we were able to increase both yield and capacity in a very short period with our Libyan refinery joint venture operation with Lybia’s national oil company,” added Sultan Al Ghurair, CEO for Al Ghurair Energy.
“We expect this visit to promote the bilateral partnership between the Federal Republic of Nigeria and the UAE’s National oil companies,” said Mallam Bello B. Rabiu, Group General Manager, Corporate Planning & Strategy NNPC, after meetings with the Ministry of Energy staff.
Edited from press release by Angharad Lock
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