The establishment of the National Oil and Gas Excellence Centre (NOGEC) by President Muhammadu Buhari at the beginning of this year has been described as a bequeathing legacy that has placed Nigeria as a new bride of oil and gas investments destination in the world, the Director/CEO of the Department of Petroleum Resources (DPR), Engr. Sarki Auwalu, said.
Since the inauguration of NOGEC in Lagos, he said, the excellence centre has attracted over 600 genuine interests from would-be investors who have written to his agency asking DPR to link them up with credible partners in the nation’s oil and gas sector for business partnership.
Sarki made the statement in an exclusive chat with Valuechain, when the editorial management of the oil and gas magazine, led by its Publisher/Editor-in-Chief, Mallam Musa Bashir Usman, paid him a courtesy visit in Abuja on Tuesday, to intimate Anwalu on the forthcoming 4th Annual Lecture and Awards of the Valuechain Oil & Gas Magazine, slated for Monday, July 12, 2021.
The Director revealed that NOGEC has already attracted the sum of $6 billion since it was opened by the government.
Valuechain recalls that Buhari launched NOGEC on January 21, 2021.
The Centre aims at strengthening Nigeria’s position as a regional leader in the oil and gas industry.
Buhari said that the establishment of NOGEC, situated at the Lagos Annex of the DPR, would enhance safety, value and cost efficiency in Nigeria’s petroleum sector.
“NOGEC aligns with the administration’s commitment to fostering stability, growth and sustainability of the Nigerian oil and gas industry for economic development.
“You will recall that at the inception of this administration, we set a clear road map for the oil and gas sector in order to increase revenue,” he said.
The President said the centre would boost the nation’s gross domestic product (GDP), generate employment and poverty reduction.
“It is, therefore, another milestone in the development of the oil and gas sector and its utilisation for the greater good of the country.
“The establishment of NOGEC is an indication that the Nigerian oil and gas industry has come of age despite the odds.
“I, therefore, urge you all to rededicate yourselves to nation building, and take advantage of the establishment of the centre to address the challenges confronting the sector.
“On our part, we will spare no effort to ensure that Nigeria benefits hugely from its natural resources,” he added.
Sarki also expressed worry that Nigeria is not producing at its best, despite the large reservoirs in the country.
“There are 7,100 discovered reservoirs in the country. But only 1,300 of them are producing,” he regretted.
Earlier, Usman, who appreciated Sarki for receiving him and his team, stated that he was on the courtesy visit with his team to familiarise with the DPR, and to seek areas of collaboration between the Department and the magazine.
Usman also briefed Sarki on the fast-approaching event.
“The event is going to focus on the maritime sector. It will bring up discussion on how to effectively enhance the synergy between the oil and gas industry and the maritime sector for greater value creation.
“We want to assure you that the Valuechain magazine is dedicated to righting the wrongs in the oil and gas industry. We are tired of the negative stories about the industry.
“We have made up our minds to sell the country to the outside world by telling positive stories about the industry, about the country.
“I want to assure you that Valuechain will continue to support the DPR, because the DPR is working for the betterment of the country.