…Marginal field policy underway
From Uche Usim, Abuja
The Minister of State for Petroleum Resources, Dr Emmanuel Ibe Kachikwu yesterday expressed worry that the establishment of modular refineries may worsen the nation’s gas flaring nightmare but assured that the government will ensure their operations are strongly monitored to protect the environment.
Speaking yesterday in Abuja at the presentation of the report on “New Nigeria Oil & Gas Framework and Policy”, the Minister who was represented by his Senior Technical Adviser on Investment, Dr. Tim Okon said the government will explore the best possible option for establishing refineries in the country.
He said: “Modular refineries will worsen our flare. We have to use economics of scale. If we have many refineries they will accentuate problems. So we we will have to control them.”
He revealed that the Nigerian National Petroleum Corporation (NNPC) will next year call for expression of interest (bids) for marginal fields, which will be opened for companies’ participation.
According to him, prior to the exercise, the marginal field policy would have come into force.
The NNPC, said the minister, will ensure that the Niger Delta gets micro businesses to do as the government is keen about providing a business friendly environment.
He revealed that there will be a critical legislation to make gas independent of government subsidy, which has caused significant loss of revenue from the product.
Kachikwu added that “we want to make sure that gas can economically stand on its own.
He said that in the new scheme of things, government intervention in the petroleum sector will focus on developing entrepreneurs in the country to discourage “sharing money that distort political discourse and value system.”
Before the event ended, Kachikwu arrived in person. He said that besides oil, Nigeria is a country with deliverable resources, with an educated and aggressive populace.
Commenting on the economic state of the nation and taking into cognizance of its potentials, he said “I imagine what Nigeria could become if we do the right thing.”