FG hopeful of improved oil, gas earnings from NOGEC
By encouraging safety, value and cost efficiency through its National Oil and Gas Excellence Centre (NOGEC) infrastructure, the Federal Government has expressed optimism of improved earnings from the nation’s oil and gas sector.
According to President Muhammadu Buhari, the country’s renewed drive in economic diversification through the oil and gas industry is aimed at expanding government revenues, boosting local production and creating employment.
The centre is expected to serve as an integrated resource complex to drive cost-efficient solutions in the industry and another milestone in the oil and gas sector.
Buhari at the presidential launch of NOGEC said, “On our part, we will spare no effort to ensure that Nigeria benefits hugely from its natural resources.
We will continue to leverage oil and gas for development and pursue our economic diversification drive.”
He urged captains of industry, stakeholders in the oil and gas industry to take advantage of the opportunity offered by the centre. He added that the centre would contribute to the country’s Gross Domestic Product (GDP) while strengthening Nigeria’s position in oil and gas industry.
“While acknowledging our achievements, we must not relent but double our efforts to combat the challenges of global energy dynamics, the emergence of COVID-19, unstable oil prices and the need for alternative energy. I, therefore, charge you all to take advantage of the centre to address the challenges confronting the industry”, he said.
Also, the Minister of State for Petroleum Resources, Timipre Sylva, said Search, Rescue and Surveillance (SERES), which is a flagship product of the centre is designed to enhance safety management and emergency preparedness.
He noted that the centre would trigger secondary and tertiary recovery operations in the industry, collaborate with global technology centres, international oil and gas regulators and other relevant parties to leverage the experience and best practices to grow the economy.