Auwalu noted that the signing of the PIA after almost two decades was another landmark achievement in the oil and gas industry by President Muhammadu Buhari.
He said:” This law holds
the key to unlocking value from the nation’s hydrocarbon resources for the
benefit of our generation and those of our children and children’s children.
“The law will enable far reaching reforms and sustainable overhaul of the industry, as there is focussed and committed implementation framework under the
distinguished leadership of the president and the Minister of State, Petroleum Resources, Chief Timipre Sylva.
“I have no doubt in my
mind that this industry is set on the path for greatness.
According to him, the conference should ensure that the outcomes of the deliberations on the PIA are synthesised, collated and forwarded to appropriate quarters, including the PIA
Implementation Steering Committee.
Auwalu noted that the DPR and its successor agencies – the Nigerian Upstream Regulatory Commission and the Nigerian Midstream and Downstream Regulatory Authority –
would continue to play a pivotal role in the industry.
He said this included creating value and promoting industry growth,
stability and sustainability for the benefit of the country. (NAN)