Nigeria hosts global conference on oilfield sustainability, hydrocarbon accounting
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OBy Emmanuella Anokam
Oil and Gas stakeholders from across the globe will converge on Nigeria to deliberate on prospects, opportunities and innovative ways of finding lasting solutions to industry challenges in a sustainable manner.
Dr Sunday Kanshio, the Managing Partner of Fleissen & Company and Convener of the conference, said this in a statement on Thursday in Abuja
According to him, the 2024 Nigeria Hydrocarbon Measurement Conference (NiHMEC) will convene stakeholders in the industry to deliberate and tackle challenges bothering hydrocarbon measurement and accounting issues.
”The NiHMEC, which is being organised by Fleissen & Company, an energy infrastructure advisor and supplier will hold from Oct. 8 to Oct. 10, in Lagos.
Kanshio said Nigeria had been playing a leading role in shaping new debates on sustainable future, considering the enormity of the petroleum industry to its economy.
He said in the last three years, the NiHMEC had formed a major part of the nation’s efforts at ensuring more profitable and sustainable oil and gas economy through expert dialogue.
He said in the petroleum industry, clauses regarding metering requirements often surfaced in important commercial contracts, such as crude oil handling and transportation agreements or gas supply and purchase agreements.
According to him, these clauses usually have technical implications that should align with the legal and commercial intent to avoid business conflicts.
He said industry experience showed that any misalignment between the commercial or legal intent and the technical connotation of hydrocarbon metering clauses in commercial contract documents could presents a risk during disputes.
“Such disputes emanate when a partner or partners involved feel that the hydrocarbon measurement and accounting processes of one or some of the partners in a shared facility are not transparent.
“This underscores the need for technical personnel responsible for the performance of measurement equipment and the accuracy of hydrocarbon quantification to be aware and involved, especially when drafting metering clauses in commercial contracts with third parties, buyers, or suppliers.
“It also places a premium on process transparency and adherence to regulatory requirements and international best practices to reduce legal disputes and financial risk exposure in the hydrocarbon sector,” he said.
He described Nigeria as a major hydrocarbons producer in Africa, with revenues from oil and gas serving as the country’s primary source of foreign exchange.
According to him, 2024 deliberations at NiHMEC will be organised under four thematic areas, namely upstream production measurement and fiscal metering and measurement for sustainable oil field operations and environmental stewardship.
Others are enhancing transparency and efficiency in hydrocarbon accounting, and loss reduction in natural gas pipeline and petroleum downstream operations.
According to him, discussions at NiHMEC 2023 encompassed all aspects of flow measurement and hydrocarbon accounting, where participants actively shared knowledge and experiences about enhancing measurement practices to minimize losses and promote sustainable operations.
“With respect to NiHMEC 2024, contributions from regulators, operators, OEMs, engineering companies, consultants, and academics, both in Nigeria and worldwide, have been requested and parties are expected to submit titles of their presentations and summaries for selection by NiHMEC technical advisory team,” he said.
NiHMEC’s Technical Advisory Committee (TAC) is chaired by Mr Osten Olorunsola, the Chairman of Energy Institute, Nigeria.
It also comprises leading subject-matter experts in the domain areas of hydrocarbon measurement, metering, and hydrocarbon accounting.
(NAN)(www.nannews.ng)
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