Bayelsa signs partnership agreement with UK-based Heritage Oil

The Bayelsa Government on Wednesday signed an agreement with a London-based oil firm, Heritage Oil Plc, to position the state for greater participation in the oil and gas business.

Gov. Seriake Dickson, who signed for the state in Yenagoa, said his administration was determined to broaden the economy of the state through participation in the oil and gas sector.

“Let me announce to all stakeholders in the industry that for once Bayelsa, is ready for active participation in the oil and gas industry.

“My charge to our partner and our people is that they should work hard to actualise the dreams and expectations of our government and people,”

The governor noted that effective collaboration between Heritage Oil and the State Government would not only engender the creation of employment opportunities but also position Bayelsa as an active player in the industry.

He explained that the agreement would lead to the setting up of a major oil conglomerate in the state to compete in both the down and upstream.

Dickson said that although the state had been known for the production of oil and gas over the years, the area had little or nothing to show for it.

According to him, non-participation of Bayelsa people in the oil sector may be partially responsible for the development.

“You are aware that even at a time that people are divesting from oil assets in this area, no mention is made of our involvement.

“What we have signed today is going to blossom and be strong enough to compete favourably with other competitors in the upstream and downstream sectors of the industry,” Dickson said.

In his remarks, the Chief Executive Officer of Heritage Oil Plc, Mr Tony Buckingham, said that the partnership was targeted at developing the resources of the state to facilitate its economic well-being.

He lauded Dickson’s efforts at expanding the frontiers of opportunities in the oil industry for the benefit of Bayelsans.

Buckingham assured of his company’s readiness to provide the requisite funding and expertise.

“The natural resources of Bayelsa State and indeed, Nigeria belong to the Nigerian and Bayelsa people. These resources are to be used for the betterment of the people,” he said.

Also speaking, the Managing Director of Bayelsa State Oil Company, Chief Johnny Turner, expressed delight at the signing of the agreement.

Turner, who described the agreement as a leap in the development of the state, noted that the partnership would benefit the state in terms of job creation and improving internally generated revenue. (NAN)