Kyari said NNPC was working in concert with the ministry of petroleum resources and the National Assembly to facilitate the passage of the Petroleum Industry Bill before the end of the second quarter of 2020 in order to provide clarity and certainty to investors with a view to stemming the trend of dwindling Exploration and Production activities in the sector.
“While work on the PIB is going on, we are engaging with the IOCs to resolve some of the commercial processes to make sure that these businesses continue. That was how we were able to deliver the Train 7 FID. We are working on the Bonga South project and a number of projects that you listed. I know that our partners are ready to do business with us. That way, exploration work will spring back, I am very optimistic about that”, he said.
He charged member companies of PETAN to be ethical in their transactions and pledged to support the Association in its objective of growing local capacity in the oil and gas sector.
He also commended Kyari for his efficient leadership of the Oil and Gas Industry which has yielded great results such as the signing of the NLNG Train 7 FID and the resolution of the Shell-Belema Oil dispute.
High point of the occasion was the decoration of the group managing director with the PETAN brooch to mark his induction as an honourary member of the association.