Amid the backdrop of tests facing the oil and gas sector, The Executive Director of Oando PLC and Chief Operating Officer of Oando Energy Resources, Dr. Inoje Irune, has expressed deep concerns, regarding the state of the sector emphasising the need for prompt actions.
Irune, who stressed that the sector is in an emergency state, called for an end to yearly vain deliberations on the same issues, reiterating the need for more immediate and focused actions to address the challenges.
Highlighting the urgency of the situation, he said the time of deliberations has passed and that immediate actions are what is needed now. The call to end yearly discussions signalled a plea for a more dynamic and responsive approach, with a focus on tangible solutions that could alleviate the constant issues affecting the sector.
“The entire oil and gas sector is in a state of emergency; we can dance around the issues, talk about an approach but we have to act now. The last time I was on the stage I spoke about being impatient about developing our oil and gas sector and creating value for people. Today, we face something as simple as a currency escalation and the one single industry that can provide the buffer and the foundation to support is ours,” he said
He laid emphasis that the the responsibility was on everyone, whether as business owners or government regulators, acknowledging that the current challenges should have been addressed two decades ago.
He highlighted the urgency of confronting issues currently grappling with, as history will document this era, and everyone needs to contribute positively and leave a commendable legacy.
Stressing on local value creation, he explained that when assets are transitioning, to independent local producers, it indicates value control.
Olaitan Ibrahim