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...For a better society... Wednesday, December 01 2004 Vol 13 No.44 News Editorial Politics Opinion Features Foreign News The Arts Sports Education Business Money/Market Travels/Tourism Property/Environment Columnists View From America FG welcomes more investors in oil, gas sector - Atiku LERE OJEDOKUN, Abuja VICE President Atiku Abubakar yesterday said the federal government welcomes more investors in the nation’s oil and gas sector. He stated in particular that more players were needed in the petroleum downstream because of the deregulation of the sub-sector. Speaking with a delegation of Anadarko, an international energy company, during a courtesy visit to the State House, Abuja, he stressed that a lot of opportunities existed in the oil and gas sector. According to Atiku, since major players in the sector have had their hands full, "we need to have more players in that sector." The Vice President also expressed dissatisfaction at what he called slow-pace by most of the oil multinationals. "We have for a long time got used to the presence of major oil companies operating in the country, but they are not moving fast enough. The big companies are too slow. So, we intend to open the doors to more dynamic and energetic companies so as to speed up development of the sector," he said. Revealing that government’s desire was to increase the nation’s oil reserve and daily production capacity, he told the delegation that the country has the biggest market in West Africa. This, he noted, was a big opportunity for investors especially in deepwater oil production even as he assured them that the Niger Delta, the country’s oil belt, was now peaceful and conducive to do business. In his remarks, leader of the delegation Mr. Robert P. Daniels, who said they were on an introductory visit to Nigeria, however, said the company had operated in some African countries since 1989. He stated that it has handled a lot of activities in gas and deepwater production. He commended government’s new policy of increased local content in oil sector while assuring that a large chunk of the company’s workforce would be drawn locally. Mr. Daniels also hinted of the intention to bid for some oil blocs whenever government offered them for prospecting. � 2004 @ Champion Newspapers Limited (All Right Reserved). Powered By dnetsystems.net dnet�

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