DPR inaugurates Alternative Dispute Resolution centre in Lagos

Department of Petroleum Resources (DPR) concluded plans to inaugurate Advisory Council and Body of Neutrals of oil and gas ’s Alternative Dispute Resolution Centre (ADRC) in Lagos.

Mr Paul Osu, Head, Affairs, DPR, made this known in a statement issued on Monday in Lagos.

Osu said that centre would be inaugurated on April 15.

He said that ADRC was one of centres in DPR National Oil and Gas Excellence Centre inaugurated by Muhammadu Buhari recently.

According to him, the centre will offer arbitration, mediation and conciliation services for the .

“The centre will leverage technical experts, Alternative Dispute Resolution Practitioners and resources of the National Data Repository to provide fair and balanced resolutions of -related disputes from an informed .

”The ADRC is structured to adequately resolve disputes in a manner consistent with regulatory and commercial interests of the industry.

“This will address suboptimal development of oil and gas assets associated with lingering disputes,” he said.

Osu added that this would eliminate the attendant consequences of value erosion in terms of national resource growth, global competitiveness, investment attractiveness and investor’s profitability. ()