Abuja - The Bayelsa State government has signed a partnership agreement with Heritage Oil PLC of London in an alliance that is poised to develop oil resources in the region and enhance economic development.
Speaking at the signing ceremony in Government House Yenagoa, Governor Seriake Dickson said 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.
“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,” said Dickson.
He said the partnership will have long-term benefit to locals.
“What we have signed 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,” the governor said.
Chief Executive Officer of Heritage Oil, Tony Buckingham, pointed out that the partnership was targeted at developing the resources of the State to facilitate its economic well-being.
He lauded the efforts of Dickson in expanding the frontiers of opportunities in the oil industry for the benefit of locals 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,” Buckingham said.
– CAJ News