The Managing Director, Shell Petroleum Development Company (SPDC), Mr. Osagie Okunbor, has described the lengthy contracting process in the oil and gas sector as the major blight stunting its growth.

Okunbor, in an interview with KPMG magazine, said there was an urgent need to review and shorten the length of the contract threshold. According to him, the review should be done with inputs from relevant stakeholders, as it remains vital to the Joint Venture companies and the contracting circles in general.

The Shell boss also harped on the need to address security concerns in Nigeria, especially in the Niger Delta region. He said Shell was willing to work with the Federal Government on various fronts to ensure the security of oil and gas assets and for production; even as he lamented the 2016 violence in the Niger Delta, which shrunk oil production output.

He described oil as a major economic booster that will remain relevant globally in the next decade or more. Okunbor added that the SPDC will significantly leverage technology and digitisation to further enhance its business systems, processes and operations in Nigeria.

Source: The Sun