The Ministry of Petroleum Resources, on Thursday 27 Oct 2016, launched a roadmap tagged "7 Big Wins" for the oil and gas sector. The major focus of the roadmap is to address the following 7 industry issues:
- Niger Delta and security
- Policy and regulations
- Business environment as well as investment drive
- Transparency and efficiency
- Stakeholder management and international coordination
- Gas revolution
- Refinery and local production capacity
The anticipated gains from the 7 Big Wins are:
- Improved security and environmental safety
- Robust fiscal policy and instrument
- Increased oil production (target is 2.8 – 3million barrels per day)
- Efficient and transparent parastatals and institutions driven by profitability and accountability
- Upgraded refineries
- Reduced importation petroleum products (target is to achieve 60% reduction by 2018)
Become net exporter of petroleum products and value added petrochemicals by 2019
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