Chief Timipre SylvaLNGNNPCOil and GasReview of the Petroleum Industry Act 2021 for Pension Companies

November 26, 2021by megathos0
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The PIA 2021 is designed to unlock Billions of Dollars in stalled oil and gas projects that will spur the growth of players in the Nigerian economy.  This includes companies in the oil and gas space and pension companies…

Prior to the convoluted evolution of the PIB, there was a bit of regulatory certainty in the oil and gas space. The PIB was long in coming and brought about a wind of regulatory uncertainty as it went through a number of legislative cycles. However with the emergence of the PIA 2021, it is hoped that there will be a flurry of investment activities in the oil and gas space in Nigeria.

The PIA 2021 should help unlock the value in oil and gas projects that were stalled prior to the PIA 2021. Over $48 Billion dollars of low hanging oil and gas opportunities are waiting to be snapped up by discerning investors.

All things being equal, the PIA 2021 should lead to the growth of the oil and gas industry in Nigeria and an improvement in local content and the quality of manpower available in Nigeria. Whether this will become a reality or remain an objective is a discussion for another day.

The Megathos Update, PIA 2021 Review_Business Opportunities for Pension Companies will lead and guide you and your teams through the business opportunities available in the Petroleum Industry Act 2021. (PIA 2021)

 

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