GOV DICKSON TO STATE OWNED OIL COMPANY ...FASHION OUT POLICIES TO REPOSITION BAYELSA FOR ACTIVE PARTICIPATION IN OIL AND GAS INDUSTRY

GOV DICKSON TO STATE OWNED OIL COMPANY ...FASHION OUT POLICIES TO REPOSITION BAYELSA FOR ACTIVE PARTICIPATION IN OIL AND GAS INDUSTRY 

As part of efforts geared towards building a strong economy for the State, the Bayelsa State Government has tasked the board of its oil company to fashion out policies to reposition the State for active participation in the nation’s oil and gas sector.

Governor Seriake Dickson gave the charge while inaugurating the Chairman and members of the Board of the Bayelsa Oil Company Limited at Government House, Yenagoa.

Describing the company as strategic, Hon. Dickson challenged the board to take advantage of the existing favourable investment climate to shore up the asset base of the company.Considering the peculiar position of the state as a major oil producer in the country, he called for intensified efforts to enable the company acquire more stakes in the industry to add to its existing marginal and ordinary oil blocs.While emphasising the need for synergy between the board and the Bayelsa Development and Investment Corporation (BDIC), the State Chief Executive particularly asked the new board to explore opportunities in the downstream sector of the oil and gas industry.

Describing the Chairman and members of the board as men of experience and proven integrity, Governor Dickson expressed his determination to give them the needed support to actualize the objectives of the company.“Let me charge the Chairman and members of the board to build on the assets of that company. You will have our support to make effort and take advantage of the various situations that are favourable right now to ensure that we build on our asset base in terms of upstream assets and operations. 

But beyond that, it is my charge to you also to explore opportunities in the downstream sector because our company should be involved in all aspects of the oil and gas industry.“I have received several business delegations from within and outside this country, seeking to participate and partner with us in the actualization of the objectives of the Bayelsa Oil Company. But I feel they should all wait for the board to come on stream so that the board and management can take informed decision.“You are all aware that we have the overriding holding company that we have inaugurated in this state, that is, the Bayelsa Development and Investment Corporation. That Corporation by its very structure is to oversee all our commercial activities. So, this board will relate from time to time with the BDIC board and committees, he said.

Responding, the Chairman of the Board of the Bayelsa Oil Company Limited, King Amalate Turner expressed the new board’s readiness to tackle the challenges facing the company to make it more viable. King Turner also expressed the intention of the Board to strictly run the company as a private organisation to enable it achieve set objectives such as generating enough employment opportunities for people of the state.Other members of the eight-member board are Dr. Daru Owei, Barrister Fidelis Agbiki and Chief Duncan Eke.Also to serve on the board are John Dauta, Tamaraukuro Etonye, Barrister Timiebi Okara and Adolphus Forcados.