PIA provides certainty to oil, gas investors in Nigeria — Experts

PIA provides certainty to oil, gas investors in Nigeria — Experts
For More Enquiry: 08052442020

Nigeria’s comprehensive legislation on oil and gas, the Petroleum Industry Act (PIA), has provided certainty to local and foreign investors, capable of leading to increased investment.
The additional investment is expected to culminate in greater energy security for the country.

The chairman, Dorman Long Engineering Limited, DLE, Dr Timi Austen-Peters, who disclosed this in an interview with our correspondent, said: “It provides certainty for investors in the area of oil and gas; it should be seen as a good thing. With more investors, there is greater energy security for the country and work for indigenous oil service companies.”

Also, he disclosed that DLE is ready to stake additional resources, working with its partner, Rockwell Automation, RA.

Specifically, he said: “Dorman Long is the longest established leading and one of the largest indigenous-owned fabrication companies in Nigeria. Given this experience and massive capacity, we are uniquely poised to provide fabrication and ancillary services to the oil & gas industry as the many opportunities open up in the wake of the passage of the PIA.

“RA is a provider of industrial automation and information technology. DLE is a major contributor to Nigeria’s industrial and infrastructure development through steel fabrication and erection services.

“Her over 70 years and established relations with not only the oil companies allows DLE the comparative advantage and position to market the RA brand and technologies by offering clients a seamlessly integrated suite of end-to-end products and services.
“A partnership between DLE and RA gives automation and process engineers new ways to improve industrial operations.”

According to him, “Product and Technology innovation is the bedrock of the 4th industrial revolution. RA’s solutions are designed with quality to meet client needs today, tomorrow and into the future.
“The Nigerian gas sector is on the precipice of growth and development.“Investments are underway to harness this abundant natural resource which will be vital to the Nigerian economy.

“Conversely, oil and gas producers will need smarter and connected solutions to increase speed to market and outperform industry standards.
“Beyond operational excellence is the need for sustainable solutions that promote prosperity while protecting the environment and this is where Rockwell Automation comes in.”

He also disclosed that Africa Capitalworks, ACW, has taken up an equity investment in the company, adding, “ACW has seen the resilience, track record of success and opportunities which are increasingly opening up for Dorman Long.

“They are convinced that with their financial muscle and management expertise in support of proven winners that we can jointly succeed even more and even faster.”
The chairman, added: “We will modernize our equipment, increase our footprint and re-invest in our human capital.

“We will be doing what we have always done but better, more of it and doubling down on our vision that Nigeria presents the greatest opportunity for us”.

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