Soni O. Oyekan

President & CEO

Prafis Energy SolutionsAIChE National Conference

Session 116 New Orleans, LA

April 2, 2019

Work in Retirement Can Yield Numerous Benefits

Outline

Introduction

Planning for Retirement

Operating Prafis Energy Solutions

Benefits

Summary

Introduction

No patented set of strategies

Differences in personal lives and families

Differences in lifestyles and spiritual histories

Nuclear and extended family cultures

Health of retiree and family members

Retirement goals - family, travels, rest, work, educational studies, spiritual life enhancements

Planning for Retirement

A. AssetsPension, IRA accounts, brokerage firm accounts, real estate, social security, income, inheritance, gambling winnings, equity positions, etc.

B. Medical Care Expenses- Average cost was $10.2M for 2017- Increasing at 2% per year- Average $280M estimated spent by couples - Over 640,000 persons per year file for

bankruptcy due to health costs in US

Medicare , supplemental and dental insurancecoverages

US Medical Costs Are High

Average of $280M may be required per couple

Men and women living to ages 85 and 89 years respectively

Cost is for years starting at 65 years age each.

Long term care costs are not included

Once An Oil Refiner, Always an Oil Refiner

History of Business Start Ups

Formed SOni Nigerian and American Company (SONAC) in 1999 and registered it in Delaware Narrowly Focused on Precious Metals Management Business

Platinum Acquisition, Catalyst Manufacture to Precious Metals Reclamation.

Corning and GM Development Manager Offers– Catalysis and Fuels

Accepted Marathon Oil’s Offer of Refining Processes Consultant

Continue Corporate Consultant Roles at Sunoco (1993-1997), and Amoco/BP (1997 to 1999)

Made me a Globally Renowned Oil Refining Consultant and Expert

Formed Prafis Energy Solutions for Retirement Years in 2011 and registered it in Louisiana (www.prafises.com) Retired Jan 1. 2013, Started Business on January 2, 2013

Broader Services such as Oil Refining Strategies, Optimization, Reliability, Management & Training

Catalysts and Processes Development

Gas to Liquid Technologies

Prafis Energy Solutions

Started operations in 2013

Special thanks to several clients – Ascent Engineering, CHEP now Hoover Ferguson, Custom Products Intl. (CPI), Gerson Lehman Group (GLG), Haldor Topsoe, Lion’s El Dorado Refinery, Integrated Global Services (IGS), Matheson, P66 Borger Refinery,Roddey Engineering Services

Awarded 3 US patents (2014, 2016) and 1 Canada patent (2016) for the optimization of low coke naphtha reforming for CCR units.

Work was initiated while at Marathon Petroleum Corporation

Need partners for collaboration on my recent novel ideas

Prafis Energy Solutions provides cost effective solutions for the reliability and optimization of oil refineries.

Work Derived Benefits

Operate Prafis Energy Solutions

Potential tax benefits

Staying mentally alert

Time to live with immediate and extended family members

Take care of personal and family health

Work on my spiritual journey and aid others’ journeys

Work Derived Benefits

Completed 4 years course in Education for Ministry, School of Theology, Univ. of the South, Sewanee

Volunteer work at my home Calvary Episcopal Church

Volunteer work in AIChE Foundation, Henry & Melinda Brown Endowment Fund for college students

Plan for will, and life exit

Catalytic Naphtha Reforming Process Book

Catalytic Naphtha Reforming

Process Book

Published by CRC Press, Taylor Francis

Group in August 2018

Utilized the book as a Medium to Recommend

Strategies and Practices for Optimizing

Oil Refining Processes Operations and Profitability

Health care programs for my wife and me (2014 - 2019)

Care giving for my family members including first daughter (2019-)

Time for second daughter and three grandsons.

Provide some support for my extended family members in Nigeria

Spiritually Anchored in the Triune God

Personal and Family Matters

Trip to Nigeria in August 2015

Otis Shelton, 2015 AIChE Past President, and Soni Oyekan represented AIChE and Prafis Energy Solutions

4th International Petroleum Downstream Conference in Port Harcourt, Nigeria

Nigeria has Africa’s largest economy, expected to rank 8th globally by 2040

Otis Shelton presented on “Chemical Engineers as Catalysts in Maximizing Nigeria’s Gas Value Chain”

Soni Oyekan presented on “Boost Nigeria’s Economy via Gas Monetization and Oil Refining”

Good, short, memorable visit.

Great Travels - Israel and Jordan in 2016

The Dead Sea

Petra, Jordan Madaba, Jordan

Moses at Mt. Nebo

Alaska Cruise was Great in June 2018

Glacier in Juneau

Sightseeing in Skagway

Logging Show In Ketchikan

Gardening in Victoria

Summary

Time to prioritize activities

Work on what is of Interest

Work with family, the Church and society

Take advantage of travel opportunities

Focus efforts on spiritual journey

Plan effectively for exit time

Recommended Books

Catalytic Naphtha Reforming Process by Soni O. Oyekan

My Neighbor’s Faith edited by Jennifer Howe Peace, Or N. Rose and Gregory Mobley.

The Dream of God by Verna J. Dozier

Living into God’s Dream: Dismantling Racism in America edited by Catharine Meeks

Where is God When it Hurts by Phillip Yancey

The Gifts of the Jews by Thomas Cahill

Thank you for your attendance in this session and for your time.