The Department of Petroleum Resources (DPR) has said that it will continue to embark on cost-cutting measures in the oil and gas industry to cushion the impact of the uncertainty in the international crude oil market.
The DPR Director, Sarki Auwalu said on Wednesday that the recent launch of the oil and gas excellence centre was a testimony to the agency’s resolve.
“The Nigerian economy went through turbulent times. The DPR is proud of the Nigerian oil and gas industry which has emerged stronger in the face of the emerging challenges of the triple force.
“This is a reality, the oil price crash, the global pandemic and the production cut which dealt a severe blow on the oil market and global economy. As we are rebounding, the DPR will continue to play a leading role and provide the needed direction for the benefit of the industry.
“The oil and gas excellence centre is to serve as oil and gas cost reduction centre, innovation hub and enhance industry competence,” he stated.
Auwalu, who spoke while receiving the “Oil and Gas Innovative Award” presented to him by the National Executive Council of the Oil and Gas Trainers Association of Nigeria (OGTAN), assured indigenous oil and gas trainers of more collaboration towards sustainable human capacity development for the benefit of all stakeholders in the Nigerian oil and gas value-chain.
Auwalu described the impact of the coronavirus pandemic, the oil production output cut and the fall in the prices of the commodity as a triple threat, but praised the resilience of all players in the sector who withstood the headwinds brought about by the development.
Auwalu dedicated the award to the management and staff of the DPR who he said had painstakingly exhibited innovation and creativity to add value, promote ideas and create opportunities for the sustainable development of the industry.
“Let me reassure all our partners of DPR’s commitment and collaboration towards sustainable human capacity development for the benefit of all stakeholders in the Nigerian oil and gas value-chain.
“In this, we look forward to enhanced collaboration with indigenous training organisations,” he stated.
“Accordingly, we must continue to collaborate and leverage our individual strength for mutually beneficial outcome. This is the pivotal role that the department will continue to play as industry leader,” he said.
Auwalu further declared that the DPR would continue to create opportunities that enable businesses and investments for all stakeholders by using its service instruments to enable participation in the industry.