In his keynote address at the recently concluded Nigeria Oil and Gas Conference and Exhibition, 2019, the Acting Director of the Department of Petroleum Resources, DPR, Ahmad Rufai Shakur, said the annual event plays a critical role in highlighting and promoting Africa’s huge oil and gas resource potentials to the world. Thus, “NOG provides the platform that brings together stakeholders in the public and private sectors, captains of industry, professionals, key decision makers, and influencers, with strategic knowledge of the oil and gas value chain.
Shakur noted that the event provides an avenue to meet, share knowledge, exchange ideas, gain insight, discuss emerging industry issues and proffer solutions. Lessons learnt from this gathering are applicable in the operating environment.
According to the DPR helmsman, the theme of this year’s conference, “Driving Nigeria’s Oil and Gas Industry towards Sustained Economic Development and Growth”, reflects the need for the Nigerian oil and gas industry to remain efficient and innovative in reacting to the emergence of cheaper renewable energy resources and sustain the relevance of hydrocarbon resources to the global energy mix.
The Nigeria Oil and Gas Conference have indeed provided a pedestal for the exchange of ideas, through the vast human capital resource it provides, and high-end perspectives from experts, and professionals, to propel Nigeria’s oil industry to the next level. The contribution from this unique gathering, over the years, has increased confidence in the successful operation of the sector.
Shakur disclosed, that the Nigerian Government in alignment with its transparency initiative, the Executive Order 001- Ease of doing business and the “7 Big wins” policy by President Mohammadu Buhari, reiterates the importance of reducing approval cycle, entry barriers and regulatory transaction costs, as necessary ingredients for creating conducive business environment, optimize Government take from hydrocarbon resources and value creation to all stakeholders.
It is in realization of these critical deliverables, that a holistic automation process, through information technology and infrastructure deployment, to enhance global competitiveness of the Nigerian oil and gas industry, were put in place by the Government.
Shakur said DPR is working to reduce barriers to entry, reduce regulatory transaction cost and enhance collaborative endeavours, required to create value.
Consequently, DPR has commenced the process of optimizing the robustness of the regulatory framework, for the development and growth of the midstream, as an enabler of incremental GDP contribution, from the oil and gas industry. To this end, we are focusing on petrochemicals, refining and infrastructure to support gas for power and manufacturing. The regulatory body is also working to incentivize deep play exploration, to enhance the country’s reserves growth while, it will continue to automate the processes and drive efficiency gains.