Dr. Seinye O.B. Lulu-Briggs, executive vice-chairman of Nigeria’s Moni Pulo Limited, believes her company’s success stems from the simple act of patriotism.
Moni Pulo, a privately owned exploration and production company, was founded in 1992 and achieved first oil at its Abana field of what is now its OML 114 acreage, April 1999. Since then, its asset base has grown with the acquisition of three additional concessions which are presently at the exploration phase.
“Our number one driver for investing in Nigeria is patriotism. It’s as simple as that,” Lulu-Briggs told the Oil & Gas Council.
“This is not blind patriotism because it is based on the knowledge that Nigeria is blessed with incredible human, natural and mineral resources. Against the backdrop of this information, it makes excellent business sense for me, as a Nigerian entrepreneur to bloom where I am planted and invest my resources in this emerging economy.”
In the two years, Moni Pulo plans to optimise the production of hydrocarbons from its producing field in OML 114 – Abana through well intervention activities. It also intends to increase company volumes by exploring other prospects and fields within its existing acreage in OML 114 and other concessions.
“I see the greatest opportunities in the current Nigerian market in the emerging gas-to-power sector and in-field refining of crude oil aimed at averting pipeline vandalism and crude oil theft. Moni Pulo is advantageously positioned for these two emerging sectors through our over 1Tscf recoverable gas volume and our two onshore assets which are currently in different stages of exploration and development for oil and gas production.”
Lulu-Briggs said while there was some apprehension in the industry, especially among indigenous oil and gas companies, about the volatility in oil prices, the company was able to ride the storm to successes through reviewed internal processes for risk mitigation, cost control and working capital management.
“We are also looking at working with reputable companies/investors that possess the requisite technical and financial capabilities.
“We find fulfillment in the fact that over the years Moni Pulo remains in good standing with all our industry stakeholders, regulators and host communities. All our operations are consistently conducted in full compliance with the operational and fiscal requirements of the oil and gas sector.
“Our core values of excellence, integrity, team spirit and social responsibility enable us to consistently seek optimal operational opportunities and motivate us to work with the best talents and partners. Over the years, this has placed us in good standing with our host communities and the industry stakeholders and regulators that we interact with.Limited.