Oilserv is an indigenous service company operating in the energy space in Nigeria for approximately 25 years, providing services across the oil, gas and power sectors.
“If you look back at Aurelian’s first resource, it was 13 million ounces at Fruta del Norte. It was scaled back, but now the near-term opportunity is to do infill drilling and convert some of our indicated resource to reserve. Our probable reserve is only 67% of our indicated resource right now.”
“Although we received the final permit in December, we decided to wait until after the winter to commence production so as to hit the ground running. We have now started production when the gold price is more than US$500 higher from when we acquired and started building the mine two years ago. This has given us a great base to grow from.”
PARTNER AND LEADER OF THE ENERGY AND RESOURCES INDUSTRY, DELOITTE NIGERIA
"I believe the government is doing its best to put incentives in place. However, the delay in pinning down some of the key fiscal terms for oil industry operators in Nigeria, which is largely due to political factors, is hurting the system."
After five months in Lima and more than 130 interviews, the conversations with C-executives along the Peruvian mining value chain touched on various topics. These included production targets, drilling results, the benefits of new technologies like the so-called “digital twins” to replicate reality in a virtual environment, and even the use of cartridge valves. However, a recurring theme in almost every interview, and perhaps the most significant one in relevance, is Peru's loss of its position as the second-largest copper producer to the Democratic Republic of Congo.