Participants at the just concluded Executive Workshop on National Acreage Management Policy say there is need for urgent and conscious efforts to put a sound and stress-free acreage management policy in place.
The National Acreage Management Policy which was put together by the Petroleum Ministry, seeks to make efficient gains and returns to national coffers from the oil mineral leases.
According to them, a sound acreage management policy will necessitate a new bid rounds for Oil (Blocks) Minerals Licensing (OML) and by extension, increased productivity from the nation’s Oil and Gas sector.
The federal government had in August set a target of 3mbpd crude production with 5 per cent cost reduction; curbing of petroleum products cross border leakages and completion of the Nigerian Gas Flare Commercialization Programme for the Ministry of Petroleum Resources and its relevat agencies.
Before the new target, Nigeria’s daily crude production hovers around 2mbpd and 2.2mbpd with more than 5 per cent loss due to inefficient method of measuring the crude oil that is mined.
In his remarks, Acting Head of Service of the Federation and Permanent Secretary in the ministry, Dr. Folasade Yemi-Esan represented by Alhaji Sa’eed Musa Talle, the Ministry’s Director of Planning, Research and Statistics gave the expected deliverables of the workshop on the National Acreage management Policy to include: establishment of parameters for the issuance of guidelines on acreage allocation; predetermination of license allocation of acreage; administrative procedure acreage allocation; alignment of acreage management to national aspirations; establishment of acreage management plan; establishment of production contract administration; and acreage cost management/benchmarking.
For his part, Senior Technical Assistant/Chief of Staff to the minister, Engr James Dayo Olamide said there is need to develop off takers in gas as it will boost gas production in the country. Engineer Busari assured that the present leadership of the ministry have the political will to implement the acreage management policy.
He urged those present to give the issue speedy treatment real consultants and “before a new bid round which is around the corner and will ensure increased productivity that the President and the Honourable Minister of State are talking about.”
The Executive Workshop on National Acreage Management Policy was surmised by Engineer Busari, the Director overseeing the Office of the Permanent Secretary of the Ministry of Petroleum Resources as “defining boundaries for a robust acreage management for Nigeria.”
