BAYELSA, HERITAGE OIL PLC, LONDON SIGN AGREEMENT FOR MORE ACTIVE PARTICIPATION IN OIL AND GAS SECTOR
In its bid to broaden the economy of the State, Governor Seriake Dickson has stressed the need for Government’s active participation in the oil and gas sector of the economy.
To achieve this feat, the Bayelsa State government has signed a partnership agreement with Heritage Oil PLC of London.
Speaking at the signing ceremony in Government House Yenagoa, Hon Dickson noted that effective collaboration between the company and the State would not only engender the creation of employment opportunities but also position the State as one of the active players in the industry.
According to him, the pact will midwife the setting up of a major oil conglomerate in the State and properly place the Bayelsa Oil Company to compete favourably with other stakeholders in both the down and up streams of the industry.
Governor Dickson lamented that, though the State has been known for the production of oil and gas over the years, the area has little or nothing to show for its contributions, partially due to non-participation of its people in the business.
He therefore urged the company to bid for all assets that are currently offered for sale to broaden its asset base and explore the opportunities thrown up by the partnership to actualize the expectations of the State Government and its people.
“You are aware that even at a time that people are divesting from oil assets in this area, no mention is made of our involvement. Today, that era of standing by and non-participation has ended. What we have signed Today is going to blossom and move from strength to strength and be strong enough to compete favourably with other competitors in the upstream and downstream sectors of the industry. My charge to our partner and those of our people who are involved is to see that they work hard so that they actualize the dreams and expectations of our Government and people. It is our expectation that in no distant time, we will have a befitting office of the new conglomerate in Bayelsa that will employ our people and give them an opportunity to develop their skills in this sector. It is also our expectation that this company will bid for assets that are presently offered for sale. And let me announce to all those stake holders in the industry that for once Bayelsa State is ready for active participation in the oil and gas industry.”
In his remarks, the Chief Executive Officer of Heritage Oil Plc, Mr Tony Buckingham, pointed out that the partnership, which will run into hundreds of millions of dollars is targeted at developing the resources of the State to facilitate its economic well-being.
Mr Buckingham lauded the efforts of Governor Dickson in expanding the frontiers of opportunities in the oil industry for the benefit of Bayelsans, and indicated his company’s readiness to provide the requisite funding and expertise.
“The natural resources of Bayelsa and indeed Nigeria belong to the Nigerian and Bayelsa people. These resources are to be used for the betterment of the people. They are to be used for education, healthcare and for the everyday man, woman and child in the street who had suffered and who have not had what they actually deserve. But I think the Governor has a passion and the desire to enable everybody within Bayelsa and also Nigeria to reap the just reward of the country’s oil reserve.”
Also speaking, the Managing Director of Bayelsa Oil Company, King Amalate Turner expressed delight at the signing of the agreement, which he noted was a fallout of fruitful interactions between the State and its partner that earlier held in Dubai, the United Arab Emirate.
Describing the agreement as a leap in the development strides of the present administration, King Turner noted that the partnership would benefit the State hugely in terms of job creation and boosting of internally generated revenue.
Daniel Iworiso-Markson
Chief Press Secretary to the Governor of Bayelsa State
6 /11/2013
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