7 Big Win
Ibe Kachikwu

The new road map for the oil and gas sector tagged `7 Big Win’ will bring about massive development in the sector.

Minister of State for Petroleum Resources, Dr Ibe Kachikwu said this at the launch of the programme in Abuja yesterday.

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He said the major focus of the road map would be on Niger Delta and security.

It would also focus on Policy and Regulations, Business environment as well as investment drive. Others include Transparency and Efficiency, stakeholder Management and International coordination, Gas revolution and refinery and local production capacity.

“The 7 Big Wins is expected to  grow the Nigerian Oil and Gas Industry. It is aimed at developing a stable and enabling oil and gas landscape with improved transparency, efficiency, stable investment climate and well protected environment.”

“The ongoing reform in the sector presents a new dawn for Africa and we are excited about it.”

“It shall provide huge investment opportunity in infrastructure development, operations and maintenance across the oil and gas value change.”

According to him, the effort requires innovative thinking, new ideas, technology and partnership among various stakeholders.

‘7 Big Win’ To Focus On Niger Delta

Also, Kachikwu noted that the road map would focus majorly on improving security and ensuring environmental safety in the oil producing areas in Nigeria.

This would go a long way to increase the National Crude oil production. It will also attract the much needed investment and infrastructure development in the region.

“The road-map provides a workable plan which will ensure that adequate infrastructure is put in place. This will ramp up National crude oil production to a target of about 2.8 to 3 million barrel per day.

Kachikwu also said that reviewing oil and moribund policies, gazetting new ones and entrenching robust fiscal instrument were also key in achieving the road map.

Furthermore, he said the sector will meet its target by deploying a potent communication strategy. Also, building and maintaining robust relationships with stakeholders within and outside the petroleum producing communities.

‘7 Big Win’ To Boost Production

Meanwhile, another major focus of the road-map would be to upgrade the nations refineries and increase local production capacity with the objectives to reduce importation of petroleum production by 60 per cent in 2018.

The minister also added that the country plans to be a net exporter of petroleum products and petrochemicals by 2019.