There is hope for a better deal for oil and gas producing communities in Akwa Ibom as the state government has inaugurated the Uquo Field Technical Committee on the review of Frontier Oil Ltd/Savannah Energy’s Memorandum of Understanding (MoU) for communities in Eket and Esit Eket Local Councils.
Power & Petroleum Development Commissioner, Dr. John James Etim who performed the inauguration said the event was the outcome of the decision reached at the February 22, 2021, Stakeholders’ Meeting.
Etim charged the Committee to ensure that they considered the document clause-by-clause, while adhering strictly to the critical components of the State’s Standardised Template on MoU.
This, according to him would lead to a workable agreement that would enhance the existing cordial relationship between host communities and the companies.
The commissioner encouraged them to be committed in the review process, and used the opportunity to charge the companies to ensure that they provided all necessary logistics that would aid the early completion of the assignment.
While congratulating them on their nominations, Etim expressed the optimism that the document would be made ready for ratification by Stakeholders and signed before the expiration of the current MoU in July, 2021.
Frontier Oil Ltd/Savannah Energy, are into a joint venture partnership; with their marginal fields in Esit Eket and Eket Local Councils with Frontier Oil Ltd into crude oil exploration and Savannah Energy dealing with the gas component.
The 16-Man Technical Committee comprised two representatives of the State Government; two from Frontier Oil Ltd/Savannah Energy seven from Esit Eket and five from Eket.