Operators in the oil and gas industry in the country have been urged to be more responsive and proactive by latching on the Federal Government’s unrelenting efforts at reforming the hydrocarbon industry to become more attractive to investors.
This advice was given by the Permanent Secretary, Ministry of Petroleum Resources, Dr. Folasade Yemi-Esan at the on-going technical session/meeting of officers and experts at the 2nd National Council on Hydrocarbon, in Uyo Akwa Ibom state capital.
The Permanent Secretary who is chairing the technical session noted that, since the inauguration of the council in 2016, it has brought a turning point in the oil and gas sector, stressing that, the industry now has sustainable platform to grow linkages for the convergence of ideas.
With the theme, ‘7 Big Wins; Framework For Realizing the Potential of Hydrocarbon’, she explained that, all the reforms and other initiatives by government are all aimed at making the country oil and gas sector attractive to both domestic and foreign investors.
With participants drawn from oil producing state, services chiefs, SSS, Police, National Assembly, traditional rulers, indigenous oil companies, NGOs, host communities, among others, she noted that it was time to diversify the sector as such would certainly opened up the sector to more business opportunity and at the same time provide viable source of revenue to the country.
“It is envisaged that this technical session of officers and experts would evolve in a manner that would consistently assist council to channel its resolutions towards the strengthening of policies and initiatives in the oil and gas sector.
“With constant fluctuation in oil revenues globally, it is only wise to begin to leverage on creative means of diversifying the oil and gas sector so as to open up the sector to more and better business opportunities as well as provide viable source of revenue for the country as encapsulated under the aims and objectives of the 7 Big Wins”, she said.
She expressed the hope that, with the caliber of participants, their contributions would help government at arriving at decisions that would make the oil and gas sector attractive to investors.
Earlier, the commissioner for Transport and Petroleum Oman Esin, who represented the governor, Udom Emmanuel, expressed the hope that with proper implementation of programmees and policies in the hydrocarbon sub sector, such would go a long way into making the oil and gas sector investor friendly.
He noted that, as a state, it has forwarded a lot of Memos to the technical committee for considerations, noting that, once such are given considerations, it would mean a serious in-road into the development of the Hydrocarbon industry.
“I wish to urge the Technical Committees to consider policies that will fast-track exploitation of hydrocarbon in a safe, secure and friendly environment for the benefit of the nation and the development of the Host Communities”, he said.