Daily Trust

DPR lists 5 ways to boost oil, gas sector

- By Zakariyya Adaramola


The Department of Petroleum Resources (DPR) has listed five ways to fortify the Nigerian oil and gas sector for economic stability and growth. The Director and Chief Executive Officer of DPR, Mr Sarki Auwalu, made the suggestion while presenting a keynote address at the 20th Nigeria Oil and Gas conference, in Abuja on Tuesday.

The theme of the conference is: “Fortifying the Nigeria Oil and Gas Sector for Economic Stability.”

Auwalu listed legal, institutio­nal, financial, insector diversific­ation and indigenous capacity as five ways identified by the petroleum industry regulatory agency to fortify the industry.

Auwalu said the DPR would remain committed to the developmen­t of the oil and gas sector for economic growth and developmen­t.

“For us in the DPR, we contemplat­e five broad areas in which the industry needs to support the nation for economic growth and stability.

” The areas are legal, institutio­nal, financial, in-sector diversific­ation and indigenous capacity.

“And I have to say that with the focused leadership of President Muhammadu Buhari and the Minister of State for Petroleum Resources, Chief Timipre Sylva, the key fundamenta­l issues on growth are being addressed, “he said.

Auwalu noted that millions of dollars were required for investment in infrastruc­ture in the deep offshore, inland basin, frontier basins, marginal field developmen­t and gas infrastruc­ture, among others.

He added that investment­s in the NLNG train 7, AKK gas pipeline project, among others were an indication of an improved business model in the country.

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