October 17, (THEWILL) – Rivers State Governor, Siminalayi Fubara, has reaffirmed his commitment to fostering a conducive business environment for investors in the state.
The Governor gave the commitment on Wednesday, at the Government House in Port Harcourt during a closed-door meeting with a delegation from Oando Energy Resources, led by its Managing Director, Dr Ainojie Alexander Irune.
Speaking to newsmen after the meeting, Irune said Oando Energy Resources, aims to reach a production target of 100,000 barrels per day (BPD) over the next five years, along with producing 1.5 billion standard cubic feet of gas,
Dr Irune told reporters that while Oando’s targets are bold, their success depends heavily on maintaining a harmonious relationship between the company, the state government, and the host communities.
He said, “We will continue to invest in the upstream sector, which brings us to the conversation of why we are here. We have ambitions to deliver a 100,000-barrel-per-day production target over the next four to five years, along with over 1.5 billion standard cubic feet of gas.
“We can only achieve this in harmony. We can’t do it in a chaotic environment. We have chosen this state as our base, even though we produce from three other states—Bayelsa, Imo, and Delta.
“And these assets span Oil Mining Leases (OMLs) 60, 61, 62, and 63 in all of these states. So, we plan continuous investment, but our priority must be not just in the assets but also in the communities where these assets operate.
“As you know, Oando Energy Resources’ Port Harcourt base is located in this state, and our smooth operations so far have been a function of a stable environment, a stable community, and the ability to carry out our day-to-day operations within this community.
“So, we are here to pay this courtesy visit and thank the Governor for the continued support he has given to the company.
“We believe that the operating environment has been relatively improving. We still see some unrest in certain areas, especially related to the issue of pipeline vandalism, but we have observed significant improvement.”
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