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FCMB restates commitment to oil, gas reserves growth

By on November 27, 2014

FCMB Capital Markets Limited, the investment banking arm of FCMB Group Plc has restated its commitment to enabling the realisation of Nigeria’s oil and gas reserves growth agenda by actively supporting indigenous operators.

A statement from the firm yesterday quoted the Executive Director, FCMB Capital Markets Limited, Mr. Tolu Osinibi to have stated this at the Oil Council World Assembly 2014 conference that took place in London recently.

The Oil Council World Assembly is the largest business network platform for oil and gas leaders and other stakeholders across the globe.
Speaking at the conference, Osinibi stated that “FCMB Group’s support of the oil and gas industry remains strong.”

He explained that the financial institution’s involvement in the sector “is in line with our commitment to contribute to Nigeria’s economic growth.”

Furthermore, Osinibi added that the ongoing structural shift in the industry, especially assets divestment by the International Oil Companies in the past few years had resulted in a significant increase in participation of indigenous operators across the industry value chain, adding that the consequent increase in investment in the industry would take place over the next few years as the acquirers develop the assets bought.

“We have over the past few years demonstrated the ability to help with identifying and allocating the technical and financial risks associated with complex projects in the oil and gas industry.
“We have what it takes to play a leading role in helping to execute initiatives that will boost the growth of the industry and, consequently, Nigeria,” Osinibi added.

Commenting on FCMB’s participation at the event, he explained that his firm’s participation at the conference as well as being a co-sponsor, reflected its focus on being a strategic partner to key stakeholders across the industry value chain.

 

[ThisDay]