Stakeholders Tasked on Exploration of Nigeria’s Hydrocarbon Resources

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Okon Bassey in Uyo

Stakeholders and experts in the Hydrocarbon industry of the oil and gas sector are meeting in Uyo, Akwa Ibom State capital to brainstorm on major achievements and challenges in the hydrocarbons development in the country.

The five-day summit with the theme “7 Big Wins” (a framework for realising the potentials of hydrocarbons) holding at the Ibom Tropicana Centre will end on Monday November 20, with stakeholders and experts drawn within and outside the oil and gas industry.

At the opening of the Technical session of the stakeholders, officers and experts, the Permanent Secretary, Ministry of Petroleum Resources, Dr. Folasade Yemi-Esan harped on the need to strengthen policies and initiatives in the sector.

She expressed optimism that stakeholders will at the end of the meeting come out with issues that would promote massive exploration of the untapped potential of Nigeria’s hydrocarbon resource.

The federal government, she said, was prepared to take the industry to the next level; hence the need for the stakeholders to be more responsive and proactive in the development of the hydrocarbons 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 as to open up the sector to more and better business opportunities.

“The Ministry will not relent in seeking new areas for the development of hydrocarbons. The recent approval of the National Gas and Oil policies by the Federal Executive Council has given us added impetus to pursue that resolve”, she said.

She noted that inaugural council meeting last year was a turning point in the country’s oil and gas sector as the industry now has a sustainable platform to grow linkages and for the convergence of ideas on an annual basis.

“The ongoing major reforms in the industry further underscore the imperative for effective stakeholders’ management. These reforms include the 7Big Wins, a document outlining the short and medium terms plans of the federal government to grow the Nigerian oil and gas industry between the period 2015-2019”, she added.

Also speaking, the Akwa Ibom Commissioner for Transport and Petroleum Resources, Mr. Orman Esin said the state government was making in-roads towards local content, provision of infrastructure and establishment of mid-stream industries.

“Our contributions towards the development of the Hydrocarbon industry are reflected in the few memos we are presenting to the technical committees for consideration”, he said.