Bayelsa, Heritage Oil Plc, London, Sign Agreement For More Active Participation In Oil And Gas Sector

By Felix Jeremiah, Yenagoa
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.