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Expert calls for collaboration to stimulate investment in oil & gas sector

Business Economy

Expert calls for collaboration to stimulate investment in oil & gas sector

oil and gas sector

An oil and gas industry operator, Mr Emeka Okwuosa, has called for collaboration among service firms to stimulate investment opportunities and address funding challenges in the sector.

Okwuosa, Chief Executive Officer of Oilserv Group, made the call in an interview with the News Agency of Nigeria (NAN) in Lagos on Wednesday.

Okwuosa said collaboration between oil and gas operators and service companies would enhance sustainable growth and economic development of the country .

According to him, the industry stands to benefit from one another through effective collaboration.

“This will ease the difficulty associated with investment and ease operators’ reliance on government funding.

“A well-designed collaboration is therefore necessary to speed up economic recovery and competitiveness in the industry.

“It is the Nigerian factor that everyone wants to do things in his own way and it is not the way to go.

“It is about understanding that the way to create value requires working together and not as an individual,” he said.

Speaking on the East-West Gas Pipeline Project being handled by Oilserve, Okwuosa said that the job would be completed by September 2019.

The News Agency of Nigeria (NAN) reports that the East-West OB3 Gas Treatment Plant (GTP) is the largest in Nigeria with a capacity of two billion standard cubic feet of gas per day (2bscf/d).

The Oilserv boss lauded the Federal Government and the Nigerian National Petroleum Corporation (NNPC) for providing the opportunities for indigenous companies to flourish in the oil and gas industry. (NAN)


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