Komolafe made this known on Tuesday during his keynote address at the
maiden Petroleum and Natural Gas Senior Staff Association of Nigeria annual conference tagged ‘energy and labour’ summit.He said the divestment would affect job security, adding that it would be largely driven by crude oil theft as well as underinvestment.Komolafe, therefore, asked indigenous players to grasp the opportunity to employ competent professionals in the sector.
“Fundamentally, it is important to note that within the next few years most IOCs shall divest from onshore oil and gas assets due to poor return on investment as a result of crude oil theft and this may pose threat to job security,” he said. “However, it is expected that indigenous players would leverage on this to recruit experienced professionals who will in turn grow local capacity, in addition indigenous players are urged to take advantage of the predictable licencing rounds as enshrined in the PIA and relevant regulations to form big mega companies that will grow in-Country capacity and also expand outside the shores of Nigeria”
Energy can neither be lost nor destroyed…
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