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PIB will address Production Sharing Contracts issues on gas — Sylva


PIB will address Production Sharing Contracts issues on gas Sylva
On
Mr. Timipre Sylva, Minister of State, Petroleum Resources.
The Minister of State for Petroleum Resources, Chief Timipre Sylva, says the Petroleum Industry Bill (PIB) currently before the National Assembly will resolve the issues under the Production Sharing Contracts (PSC) on gas.
Sylva made this known at a National Assembly Public Hearing organised by the Joint Committee on Gas Resources, Petroleum Resources, Upstream and Downstream, on Monday, in Abuja.
The hearing was on the topic: “Inclusion of Gas Terms in Production Sharing Contracts by the Nigerian National Petroleum Corporation (NNPC).” ....

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Sylva, Kyari Seek Inclusion of Gas Terms in PSCs


By Emmanuel Addeh and Udora Orizu in Abuja
The Minister of State for Petroleum Resources, Mr. Timipre Sylva and the Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, yesterday advocated the inclusion of gas terms in the Production Sharing Contracts (PSCs).
They called for a legislative framework with clear fiscal terms in order to tap the full potential of the gas resources in the nation’s deepwater acreages.
Kyari and Sylva spoke at a one-day public hearing on ‘Inclusion of Gas Terms in Production Sharing Contracts (PSCs) by the Nigerian National Petroleum Corporation (NNPC)’, organised by the House of Representatives’ Joint Committee on Gas Resources, Petroleum Resources (Upstream) and (Downstream). ....

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