Seven Energy calls for development of new gas basins
The Seven Energy’s Chief Operating Officer, Jeff Corey, has stressed the need to focus attention towards the development of new gas basins like the Anambra basin, which has some gas discoveries that has never been tapped.
Corey, who made this call during a courtesy visit by the Nigerian Gas Association (NGA) in Lagos, urged the group to push for the development of gas in new basins, saying, there is little encouragement in policies and regulations in that direction.
“The basin will open a whole new area to have gas supply for power and industrial use”, he added.
He pledged the company’s commitment to co-operate and strengthen ties with NGA on shared objectives.
“We have a lot of shared objectives. Even though we have some oil operations, our focus is domestic gas and our gas operations are integrated from production, processing, transport to sales”, said Corey.
Corey noted that gas infrastructure, one of the areas Seven Energy focused on, is highly needed in Nigeria and success can be accomplished with external funding along with government funding.
While acknowledging that attracting infrastructure funds to Nigeria is not always easy, he pointed out that Seven Energy has been successful in raising capital, including private equity investment for Nigerian gas infrastructure development.
“It is important for Nigeria’s future that Seven Energy is successful because we have proven a good avenue to bring in international capital”, Corey added.
President, NGA Bolaji Osunsanya, congratulated Seven Energy for its accomplishments in the gas sector, especially for “showing a new business model for the gas sector”.
Osunsanya said that NGA is a broad-based association that pushes critical issues to stakeholders in a non-partisan way that is devoid of self-interest.
Amongst the critical issues that the association is currently canvasing include positioning gas as the new resource pride for Nigeria, shoring up gas reserves and re-visiting the Nigerian Gas Masterplan.
“The issues we put on the table as at 2008 for the gas master plan all require revisiting; be it fiscal terms, regulation, pricing or tax terms. For us as an association, that will be the challenge going forward”, Osunsanya said.
Osunsanya called on Seven Energy to participate fully in the forth-coming bi-annual international gas conference in Nigeria organized by the association which he termed as the “biggest gas gathering in Africa”.