So, how do you think you would be able to operate successfully in this sector with demand for huge financial resources?In this sector, it is a lot of investment that you have to put in depending on your terrain. There are different terrains, there is land, swamp, shallow offshore and deep offshore. I’m almost certain for most of the fields, regardless of your terrain, you will be looking from about $50 million to $200 million to hit first oil.
The world including Nigeria is moving into alternative energy and for Nigeria, we are looking more of a gas for cleaner energy. So there is quite a bit of transition taking place in the downstream. I believe that our strength in the downstream and mid-stream will give us an added advantage as we venture into the upstream.Some experts, including your humble self believe that there is the need to change the narrative in the petroleum sector.
A lot of people have expressed difficulty in raising finances in this sector. What is your take on this?
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