NEITI Commends Universal Energy for Audit Filling Compliance

The Nigeria Extractive Industries Transparency Initiative (NEITI) has commended Universal Energy Resources Limited (UERL), a subsidiary company of Savannah Energy, over its performance in terms of compliance and provision of requested industry data during the data collection exercise for the 2019 oil and gas audit.

According to NEITI, UERL was rated 100 per cent based on the two parameters for evaluation of participating companies: timeliness and completeness.

“We write to express our appreciation for your cooperation with NEITI over time and specifically in the recently concluded data collection exercise for the 2019 Oil and Gas audit,” NEITI wrote in a letter signed by its Executive Secretary, Waziri Adio and dated 14 October 2020.

NEITI has produced the data submission compliance report for the oil and gas industry audit process since 2015. The current report ranks participating entities in terms of compliance with the data submission requirements of the 2019 oil and gas audit process.

In his comment, President/ Head of Regulatory Affairs, Savannah Energy, Bassey Umoh said: “We are pleased with the commendation from NEITI, a highly respected organisation, over our performance.

“The letter from NEITI underscores our commitment to transparency, compliance with industry regulations and excellence in our operations. Universal Energy Resources Limited will continue to operate ethically and with integrity.”

UERL is a marginal field operator, operating the OML 14 located in Akwa Ibom State.