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SOCIETY, BUSINESS and ECONOMY => BUSINESS and ECONOMY => Topic started by: cooljoe on January 15, 2018, 07:31:13 AM

Title: Fed Govt Needs To Execute Mou Signed With Niger Delta, Says PETAN
Post by: cooljoe on January 15, 2018, 07:31:13 AM
The Petroleum Technology Association of Nigeria (PETAN) has advised the Federal Government to fulfill its Memoranda of Understanding on the Niger Delta to stem the insecurity in the region.

PETAN Chairman, Bank Anthony Okoroafor, told The Nation that implementing such agreements would help ensure peace in the region. It would help to guarantee stable operations in the oil and gas industry and supply of gas to thermal power plants, he added.

Okoroafor, who gave recipe for a smooth 2018 oil industry operation, said: ?We shouldn?t lose sight of the security issues in the Niger Delta. We plead with the government and all the stakeholders to make sure that they keep faith with those MoUs they signed on the Delta region.

Okoroafor noted the importance of putting development projects in the Niger Delta.

?I would like the govern-ment to create an energy corridor in the Niger Delta with at least four modular refineries to empower and integrate the people into the oil and gas.

?Let?s have big time operators in the oil and gas from the Niger Delta region. Let?s change the face of Niger Delta. Let them have 24-hour electricity supply, which is tied to the production system so that any time the production system shuts down, the power supply shuts down,? he added.

On how the cash call exit would impact the operations of PETAN members, Okoroafor said in the past, when one executed a job for an IOC and go for payment, they (IOCs) would say the Federal Government had not paid its part of the Joint Venture (JV) cash call.

?If the JVs become self-funding, the issue of waiting for money to pay for the work done will not arise. We think the difficulty of them (self-funding JVs) accessing funds to carry out the projects will be a thing of the past,?? he said.

He continued: ??The cash call exit is yielding fruit.Chevron recently secured some big funding for projects.The challenges of focusing only on the Federal Government have been reduced. Most of the IOCs can easily secure funding to execute their projects and that will create activity in the industry. Projects will no longer be deferred because of lack of funding.

?I must tell you that our members are positioned to take advantage of this anticipated increase in activities because most of our members have the equipment and capabilities and the contracts. It?s a matter of calling on the particular firm you want to hire.??