Oil & Energy
‘Reviewing Petroleum Laws’ll Reduce Disputes’
The Minister of State for Petroleum Resources, Timipre Sylva, has said updating some of nation’s petroleum laws will help reduce or completely eliminate the spate of disagreements and lawsuits currently witnessed in the oil sector.
Sylva disclosed this in Abuja at a workshop organised by the Petroleum Technology Development Fund (PTDF) for counsels of the Federal Ministry of Justice and operators in the oil sector.
He said: “The Nigerian oil and gas industry is a dynamic one. The exploration, production and contracting processes are complex and rapidly changing. The need for state counsels to be up to date with current happenings of the industry cannot be over-emphasised.
“For many years, the Nigerian oil and gas industry has been operating in an agglomeration of legislations and guidelines, which sometimes are not in harmony with the industry trends practiced globally. The oil and gas industry had developed focusing on increasing indigenous participation.”
Sylva, who was represented by his Chief of Staff, Mr Moses Olamide, added: “Our best bet for the industry; it is better we write our laws very clearly. It is better we do all the negotiations possible. It is better we do all the reconciliation and conciliation that are possible before we sign off on our laws.
“It is going to reduce a lot of acrimony. It is going to reduce a lot of fighting in the industry. Hence, we appeal to the lawyers in this regard. It is better we write our legal matters very clearly so as to eliminate all the acrimony that might arise in the legal system.”
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