West Africa’s business news media, BusinessDay, in partnership with a Nigerian-based consultancy firm, African Consolidated Analytical Limited (ACAL), is planning to host an oil and gas award aimed at rewarding technocrats and companies who have contributed tremendously to the development of Nigeria’s Energy Industry.
The BusinessDay Award will serve as a testament of justified optimism that the fortunes of the energy sector are poised for a turnaround going by the restart of marginal field bidding by the Department of Petroleum Resources after nearly 20 years, and the expected passage of the Petroleum Industry Bill (PIB) before the end of the year.
“The Oil & Gas sector has been the engine of Nigeria’s growth for six decades. The Awards send a strong signal that the sector has shown the stamina to withstand tough spells, and the courage to embrace a bold future. Interest in the Awards has been very strong,” Ogho Okiti, managing director of BusinessDay, said in a press statement.
Okiti added, “By celebrating its stars, BusinessDay and ACAL are voting for Nigeria’s continued prosperity.”
The Award, which is the third edition of the BusinessDay Oil and Gas Awards under the theme “Resilience in the Rearview, Recovery on the Horizon,” is scheduled to hold at the Congress Hall of the Transcorp Hilton Hotel, Abuja, in September 2021.
For some years Nigeria’s oil and gas sector has been challenged by falling global oil prices, low investment, and foggy policy direction in key parts of the value chain. These challenges were exacerbated by the COVID-19 pandemic, which struck last year.
As the oil and gas sector slips out of what was a tough season in 2020, there are glimmers of optimism that those still standing have proven the mettle of their business planning.
The ceremony, which will have 32 awards under three broad categories, will include the Oil and Gas CEO of the Year (Upstream); Oil and Gas CEO of the Year (Upstream, Indigenous); Midstream CEO of the Year; Oil and Gas CEO of the Year (Downstream); Integrated Oil and Gas CEO of the Year; Oil and Gas Company of the Year (Upstream), Oil and Gas Company of the Year (Upstream, Indigenous); Oil and Gas Company of the Year (Downstream); Oil and Gas Deal of the Year, and Oil & Gas Technology and Innovation Company of the Year.
Further award categories include Oil and Gas Engineering Company of the Year, Oilfield Services Company of the Year, Midstream Company of the Year, Oil and Gas Logistics Company of the Year, Oil and Gas Human Capital Development/Training Company of the Year, Fastest Growing Oil and Gas Company of the Year, Oil and Gas HSE Company of the Year, Oil and Gas Environmental-Friendly Company of the Year (Upstream).
Others are the Oil and Gas Environmental-Friendly Company of the Year (Downstream), Oil and Gas Local Content Compliant Company of the Year, Joint Venture Company of the Year, Production Sharing Company of the Year, Independent of the Year, Marginal Field Operator of the Year, Most Innovative Retail Outlet of the Year, Lubricant of the Year, LPG Distribution Company of the Year, Gas Company of the Year, Best Well Integrity Technology, Best Production Technology Award, Best Enhanced Oil Recovery (EOR) Technology and Best Data Management & Application Solutions Award
According to a press statement, the Award Committee employed various parameters and criteria in the process of selecting and short-listing the nominees out of hundreds of oil and gas players operating in Nigeria for the different categories.
Some of these parameters include number of cases of fatality reported over the period of three years, medical treatment incident (MTI), restricted work incident (RWI), Lost Time Injury (LTI), investment in exploration and development, which comprises of seismic activity, five years rig count and number of well drilled.
Others include, new investment on retail outlets, tank farms and technology, ratio of Nigerian to foreign contractors engaged, human capacity development initiative, sponsorship and partnership, just to mention a few.
Top government functionaries, distinguished personalities in the oil and gas, business and financial sectors, as well as members of the diplomatic community will grace the awards ceremony for what promises to be an evening for glamor, and glitz.