Dr Maikanti Baru
Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru has called for regulatory compliance among operators in the oil and gas industry to enhance growth within the sector.
Baru who disclosed this at the 2018 annual stakeholders meeting of the Department of Petroleum Resources (DPR) in Abuja on Thursday identified non-compliance to regulations by operators in the oil and gas sector as one of the major factors hindering growth in the industry.
The meeting, with the theme “Regulatory Compliance as a veritable tool for safe and efficient operations in Nigeria’s oil and gas Industry,” could not be held last year as expected.
Baru was represented by Mr Henry Ikem-Obih, the Chief Operating Officer, Downstream of the NNPC.
He said that compliance with regulations would eliminate crisis in the industry and guarantee long-term viability of the industry.
“Challenges for the industry of this size would always be in getting all operators to fully comply with regulations.
“Compliance with regulations, we would say, is the biggest challenge in the industry today; just for people to do the right things according to various laws and regulations we have in the industry.”
According to him, if everybody plays their part in achieving and sustaining compliance, there will be a pain-free experience for the consumers.
He added that operators as well would remain in long-term viable businesses.
He further urged the DPR to ensure effective enforcement to achieve total compliance in the sector for growth and development.