oando

The Deputy Group Chief Executive, Oando Plc, Omamofe Boyo,  at a  stakeholders forum to discuss the fate of the nation’s oil and gas development in tandem with the local participation recently, urged the government to encourage indigenous operators to contribute better to the nation’s output, adding that emergence of 20 new marginal field operators would significantly spur output by 2020.

According to him, the indigenous participants in the sector now hold five per cent contribution, but aims at increasing it to about 20 per cent by 2020.

Therefore government can encourage them by developing policies that favour locals to take over spare of capacity that has been shut in.

He stressed that indigenous independent operators can develop marginal fields that are low on the IOCs priority lists, while they can also operate in areas IOCs cannot.

Boyo further enjoined the government to grant favourable terms to indigenous companies that can make prior non-profitable projects profitable to indigenous independents.

The Principal Consultant of Lonadek Oil and Gas Consultants, Lola Amao, who also expressed her displeasure about the prevailing anomalies in the industry, urged the government, particularly the legislators to be upright in their duties to the nation.

He berated frequent changing of head of major agencies of government in the petroleum sector, noting that such decision discourages continuity and further hinders progress of the nation.

 

Information from Guardian was used in this report.

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