EXTENSIVE CONTRACTING PROCESS RESPONSIBLE FOR UNDERDEVELOPMENT – SHELL BOSS
Originally published on August 27th, 2018
The Managing Director, Shell Petroleum Development Company (SPDC), Mr. Osagie Okunbor, in an interview with KPMG magazine has stated that the extensive duration of contracting process in Nigeria’s oil and gas industry is responsible for underdevelopment experienced in the sector.
Proffering ways to address this, he opined that an urgent review should be done with inputs from relevant stakeholders, the Joint Venture companies and the contracting circles in general.
Significantly, he emphasized that there should be exploration of methods to reduce the length and examine contract thresholds. Security issues in the Niger Delta region and Nigeria as a whole should be addressed promptly as well.
The Shell MD upheld that oil is a major component of the global and local energy mix and will remain relevant globally. He revealed the readiness of the company to work with the Federal Government to ensure the security of oil and gas assets in order to enhance production.
He assured that the SPDC will particularly leverage technology and digitisation to further enhance its business systems, processes and operations in Nigeria.