Sustainable Development of Petroleum Resources

Sustainable Development of Petroleum Resources Programme-aims to attain equitable value from the petroleum resources

Sustainable Development of Petroleum Resources is one of the 20 programmes of the NDPIII and it operationalises objectives two and three “Strengthen the private sector to create jobs”, and “Consolidate and increase the stock and quality of productive Infrastructure”. The programme seeks to address key challenges that constrain the sustainable exploitation of petroleum resources

The programme seeks to address key challenges which include:

Inadequate infrastructure to support the development of oil and gas resources,
Harmonised legal and regulatory framework,
Protracted negotiation for the Final Investment Decision (FID) between government and the International Oil Companies (IOC),
Land acquisition issues (high costs, cultural issues),
Limited human and institutional capacity to support oil and gas operations,
Unnecessary delays to grant approvals by relevant government agencies (ESIAs, water permits),
Limited private-led investment in the oil and gas industry,
Limited refined petroleum storage infrastructure,
Low Liquified Petroleum Gas (LPG) uptake, and
Unpreparedness to tap the local potential.

Therefore, the objectives of the programme were to:

To ensure sustainable production and utilisation of the country’s oil and gas revenue,
Strengthen policy, legal and regulatory frameworks as well as institutional capacity of oil and gas industry,
Enhance local capacity to participate in oil and gas operations,
To promote private investment in the oil and gas industry,
Enhance Quality Health, Safety, Security and Environment (QHSSE), and
Improve the security of the supply of refined petroleum products.

Government Programme

Sustainable Development of Petroleum Resources

Further Reading