By Augustine Okezie
Speakers at the inaugural FPSO Africa 2014 conference, which took lace in Lagos, have highlighted the link between West African oil and gas development and the market for Floating Production Storage and Offloading (FPSO) vessels. The conference was the first gathering in the region to discuss FPSOs, attracting the likes of Nigerian National Petroleum Corporation (NNPC), Nigerian Content Development and Management Board (NCDMB), including banks like FB Capital and so on.
The event also featured exhibitions on the latest megatrends in the West African oil and gas supply and demand sector, and the global demand for FPSOs in the Gulf of Guinea, particularly in Nigeria and Ghana. Presentations also featured local financing and investment trends, as well as safety and security of offshore facilities and the understanding of the Nigerian local content law.
An underlying theme throughout the conference was the local content issue, and the event proved to be a vital platform in which speakers and delegates had an opportunity to discuss design elements, practicality and time frame in which it would take to implement.
The chairman of the conference, Rob Smith said: “Overall the conference highlighted that West Africa oil and gas developments are linked to FPSO developments. While global oil markets will determine West Africa’s exports, the bigger take away that I was happy to see was the local and regional involvement in developing local content.”
Delegates concluded that in moving forward Nigeria must maintain a steady balance in looking after local interest whilst also being sensitive in protecting foreign investments.
