The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Mr. Gbenga Komolafe, has allayed the fear of job losses among workers of the international oil companies leaving Nigeria or divesting from onshore to offshore fields.
Komolafe told on the ongoing Energy and Labour Summit 2024 of the the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) in Abuja on Thursday that the commission would ensure that jobs are safeguarded and the transfer of skills from the IOCs to the indigenous companies acquiring the assets formerly owned by the foreign investors.
“Regarding the workforce in this transition era, the commission is committed to safeguarding jobs and ensuring the transfer of skills from IOCs to indigenous companies,” Komolafe said.
Local media reports on Friday quoted Komolafe as saying that the NUPRC’s mandate is creating a regulatory environment that promotes investment, fosters innovation and ensures the responsible stewardship of Nigeria’s natural resources.
He explained that a comprehensive divestment framework has been implemented to guide asset divestment in the upstream petroleum sector, focusing on technical capacity, financial strength, and legal considerations, among others.
Speaking on the state of the Nigerian oil and gas industry, the NUPRC Chief Executive said that there had been a marked shift in the Nigerian oil and gas landscape, driven by global energy transition goals, financial prudence and regulatory changes.
These divestments, according to him, have raised critical questions about the future of the industry in Nigeria.
GIK/APA