Future Union Qatar Signs Landmark $3 Billion LNG Investment MOU in Nigeria

Future Union Qatar Signs Landmark $3 Billion LNG Investment MOU in Nigeria Doha, Qatar Future Union Qatar has taken a significant step toward strengthening Nigeria’s energy sector with the signing of a landmark Memorandum of Understanding (MOU) for investment in a Liquefied Natural Gas (LNG) project being developed by International Energy Services Limited (IESL). The historic agreement was formally signed in Qatar by Dr. Diran Fawibe, Chairman of IESL and former representative of Nigeria at the Organization of the Petroleum Exporting Countries (OPEC), alongside members of IESL’s leadership team, including the Group Managing Director, Engr. Ige. The Future Union delegation was led by its Chairman, Sheikh Abdulrahman Al-Thani. The MOU was officially endorsed by Dr. Abdelgalil Sharaf, Chief Executive Officer of Future Union, together with Dr. Diran Fawibe, marking the commencement of a major long-term investment partnership between both organizations. The LNG project is expected to play a transformative role in Nigeria’s energy landscape by expanding gas production capacity, supporting gas exports, and creating substantial employment opportunities for Nigerians across the energy value chain. Speaking at the event, Princess Adebowale Odutola, Chairman of Elan Vert Nigeria Ltd, who was present at the signing, described the agreement as a milestone moment for Nigeria–Qatar economic collaboration. She confirmed that the MOU represents the beginning of Future Union’s promised investment drive in Nigeria, with implementation planned progressively over the next ten years. “This agreement reinforces investor confidence in Nigeria’s energy sector and demonstrates Future Union’s commitment to long-term, sustainable development in the country,” she stated. The partnership underscores a shared vision to promote energy security, economic growth, and international cooperation, positioning Nigeria as a strategic hub for LNG development and export in Africa.

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IESL’s maiden edition of the annual lecture series in honour of its Chairman, Dr. Diran Fawibe

The Maiden Edition of the annual Lecture Series in honour of Dr Diran Fawibe, a doyen of the Nigerian oil and gas industry held on Wednesday, July 19, 2023, at the University of Ibadan. The Oyo State Governor; the Vice Chancellor, University of Ibadan; Engr. Olumuyiwa A. Ajibola, former president of the Nigeria Society of Engineers (NSE), who was the chairman of the occasion, among others graced the Lecture Series. Having Bala Wunti, Chief Investment Officer, NUIS (formerly NAPIMS) as the guest speaker was a pleasure. He emphasised the 3Cs – Competence, Confidence, and Courage needed to prepare students to step into the legendary environment. The Lecture Series in honour of Dr. Diran Fawibe is part of an endowment aimed to further the work of the Universit of Ibandan’s Centre for Petroleum, Energy, Economics and Law (CPEEL) one of Dr. Diran Fawibe’s many contributions as an alumnus of University of Ibadan, and to foster collaboration between the academia and the energy industry.

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Dr. Diran Fawibe

IESL Chairman

Dr. Fawibe has profound understanding of the local and international petroleum industry with over 50 years of experience.

Dr. Fawibe is currently the Chairman of International Energy Services Limited (IESL), he leads the Board and focuses it on strategic matters as well as oversees the Group's business. He is an astute and highly visionary leader with a success mantra “Innovation is Life “. He believes that with the right amount of inspiration, encouragement and knowledge, ordinary people can achieve extraordinary work.

Prior to his appointment as the Chairman, he was the Chairman and Chief Executive Officer of IESL. Under his leadership as the Chairman and CEO, IESL has undertaken over 15 major projects with a cumulative value of over USD 1billion in Nigeria.

In his early career, he was a key figure at operational and governmental policy making levels illustrated by his representation of Nigeria, and attendance at OPEC expert meetings and Ministerial Conferences respectively for over 10 years. He has been cited in Who’s Who in the Commonwealth (1982); the International Who is Who of Intellectuals, (1982), and was also cited in Marquis Who’s Who in the World 1997, amongst others. He is also a recipient of the Award of the 2000 Outstanding Scientists of the 20th Century.

Dr. Diran Fawibe holds a B.Sc. (1969), M.Sc. (1971) and Ph.D. (1983) degrees in Economics, with specialization in Petroleum Marketing and Petroleum Process Economics respectively from University of Ibadan. He also attended courses in institutions such as Institute of Gas Technology, Chicago; Petroleum Economics Limited, Geneva; Morgan Guaranty Bank, New York; Institute of Marketing, London; College of Petroleum Studies, Oxford University, UK; Energy Institute, London; Centre for Professional Excellence, Amsterdam Holland; Business School, Georgetown University, Washington, USA.

The professional standing and international outlook of Dr. Fawibe is illustrated by the recognition accorded him by the following international organizations and professional bodies.

  • Fellow, Institute of Petroleum, London
  • Distinguished Fellow, Institute of Directors, UK
  • Fellow, Institute of Directors, Nigeria
  • Senior Member, The Association of Energy Engineers, USA.
  • Member, International Society of Petroleum Engineers
  • Member, International Association Petroleum Economics, USA
  • Member, Institute of Marketing, London
  • Member, Nigerian Institute of International Affairs
  • Life Member, Nigerian Economic Society
  • Senior Member, Energy Services Marketing Society of AEE, USA.
  • Deputy Director General (Africa), International Biographical Centre, Cambridge, England.

Odutola Adeleke

IESL Board Vice Chairman

Adeleke has a wide range of experience in Asset management and evaluation, Business Management, Management appreciation and production scheduling.

Adeleke is the Vice Chairman of International Energy Services Limited (IESL) where he manages the affairs of the business and ensures the continued growth of the organization.

Prior to his appointment as the vice chairman, he was the Company Coordinator where he was responsible for daily operations and managing business relationship. He was involved in the execution of several projects by the organization.

Before joining International Energy Services Limited, he worked as an Investment Executive at the Nigerian Industrial Development Bank (NIDB), Nigerian National Petroleum Corporation (NNPC), and the Department of Petroleum Resources (DPR), CASHES Manager and Project Coordinator at Globestar.

Adeleke holds a master’s degree in International Business Management from the American Graduate School of International Management (Thunderbird) Glendale Arizona and a Master of Science (M.Sc.) degree in Economics Geology from the University of Kansas Lawrence, Kansas USA.

Bayo Ige

IESL CEO

Significant experience in engineering design, procurement, construction and project management consultancy in the oil and gas industry with over 25 years’ experience.

Bayo is the CEO of International Energy Services Limited (IESL) where he is responsible for the day-to-day operation and providing leadership for the strategic direction of the company. He has a successful track record of building enduring business relationships, delivering on complex projects and providing top management leadership.

Prior to his appointment as the CEO of IESL, Bayo was the Managing Director of IESL-DORISL Ltd., a JV between DORIS Engineering SA of Paris and IESL. Before then, he was a GM at IESL, a Construction Manager and Project Manager respectively at NALCO, a U.S. based Chemical Company and at Enerplus, an oil Exploration and Production Company based in Canada.

Earlier in his career Bayo worked at various times for British Petroleum (BP) in Canada and Technip (now TechnipFMC) in Houston.

Bayo holds an MBA from Cornell University in New York, a B.Sc. in Chemical Engineering from the University of Houston and in Civil Engineering from Obafemi Awolowo University, Ile-Ife, Nigeria.

Executed projects during his professional years range in size from < $1M to $4.2 Billion. Bayo is a registered professional engineer in Nigeria and Canada. He is married with children and enjoys swimming, reading, golfing, and visiting remote places.

Okechi Nwoke

IESL Executive Director

Okechi is a seasoned professional with over 20 years’ experience in projects, contracts and supply chain management in the oil and gas industry.

Okechi is currently an Executive Director of International Energy Services Limited (IESL) and is responsible in providing strategic leadership, direction and guidance as part of the executive management team as well as implementation of such business and investment strategies that will impact positively on the company's bottom line. He also has a strong track record with international alliances and partnerships.

Prior to his appointment as Executive Director with IESL, he was the GM, Oilfield Supply and Services and before that had served in capacity in various organizations in management positions covering major projects, as field operations and services. His experience in field operational services cuts across Onshore and Offshore facilities in Nigeria, Ghana and Angola. He started his career with Julius Berger Nigeria.

Okechi has strong networking capabilities and very well-travelled in various roles in the Oil & Gas Industry.

He is an excellent communicator and an advocate of “Get it right first time” philosophy with a proven track record of delivering high value and complex projects.

Okechi holds the following qualifications

  • Executive MBA from Quantic School of Business and Technology – Washington, USA
  • Certification in Design and Fabrication of Offshore Living Quarters – Lervik, Norway
  • MSc. Architecture –University of Jos, Nigeria
  • BSc. Architecture- University of Jos, Nigeria

Professionally, he has executed and been involved in various multimillion-dollar/billion-dollar projects in Nigeria. He is married with children and enjoys the movies, basketball and travelling.

Dr. Babajide Ojuola (FIOGRHS, FIMC, FIMS, MNSE)

Dr. Babajide Ojuola, the General Manager Project Management & Consultancy, is a seasoned Engineering Management professional with several years of experience in the upstream, midstream, and downstream sector of the Energy sector. He has participated in several multi-million-dollar projects, both in technical and managerial capacities, for multinational and indigenous oil companies. He is a focal point for some of the investment and portfolio diversification initiatives within the company. His hands-on experience cuts across Conceptual Studies, Basic Engineering, Detailed Engineering Design, Construction Management, Procurement, Project Management, Quality Management, and Knowledge Management.

Engr. (Dr.) Babajide Ojuola has grown through the ranks in IESL working in the following capacities: Piping Engineer, Project Engineer, Project Manager, Head Project Management & Consultancy, and Technical Assistant to the Group Chairman. Engr. (Dr.) Babajide Ojuola holds a PhD in Engineering Management from Walden University, USA; MSc in Philosophy (Distinction) from Walden University; MSc in Engineering Management (Distinction) from University of South Wales, UK; and B. Tech in Mechanical Engineering from Ladoke Akintola University of Technology Nigeria.

Engr. (Dr.) Babajide Ojuola is a COREN registered engineer, a fellow of the Institute of Oil & Gas Research and Hydrocarbon Studies (FIOGRHS), a fellow of Institute of Management Consultants (FIMC), a member of the prestigious Institute of Leadership and Management (ILM) UK, member of Nigerian Society of Engineers (MNSE), member of Nigerian Institute of Management (MNIM), member of Nigerian Gas Association (NGA), member of Golden Key International Honor Society (USA), member, National Society of Leadership and Success (USA), member, Delta Mu Delta International Business Honor Society, and an ASQ certified Manager of Quality and Organizational Excellence (CMQ/OE).

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