The Managing Director/ Chief Executive Officer, UTMOL, Mr. Julius Rone, has said there are lots of incentives and good return on investment (ROI) for investors willing to invest in Nigeria and Africa as a continent.
Rone stated this at the just-concluded Africa Energy Week in Cape Town, South Africa.
Rone joined other top executives from across the globe to speak at the event and he spoke during a panel session on LNG.
He also provided a project update on the planned FLNG facility, detailing the role floating liquefaction plays in Africa and the project’s impact on the Nigerian energy industry.
He also mentioned that Africa must develop its God-given resources to attract investors around the world.
“Africa is a beautiful bride for the world to exploit. We have the resources and we must be allowed to develop our resources for the world to come and invest. This is actually the reason we gather every year for Africa Energy Week, to discuss how to develop our resources in Africa,” he said.
The MD of UTM also appreciates the effort of African leaders, especially President Bola Tinubu, for his effort to bring big investment to Nigeria.
“So you’re aware the President has been travelling round the world to galvanise investors to ensure that the oil and gas industry is fully amortized and developed. The President has also given a lot of incentives to encourage investors back to the country.
“Nigeria is pushing so much amenities and so much incentives for investors to come in, Brazilian national oil company is coming back to Nigeria to develop oil and gas in the deep offshore location, so you can see everybody is coming back to the energy sector.
“I also want to thank the management of NNPC, Mr. Bayo Ojulari and his team for his leadership and carrying out Mr. President’s directive to ensure that the gas sector is developed based on the directive that is given to the new management of NNPC by Mr President, they swung into action so immediately and they invited UTM to present our position,” he added.
Rone also revealed that his company, UTM, would be signing a gas agreement soon with SEPLAT.
‘’SEPLAT has been fully cooperative. We’ve advanced the negotiation and within the next two weeks maximum, we should be signing the gas supply agreement and that is a game changer for Nigeria oil and gas industry having our first floating LNG and I think that we are quite excited over this.”
In addition to his participation in the panel discussions, Rone’s engaged with global and regional stakeholders, saying Nigeria has opened new pathways for collaboration across the gas industry.