Representation


In a nutshell, our objective is to change the national petroleum policy to reflect on the following:
  • Oil production is declining;
  • Unfavorable economic environment due to the declining oil price;
  • No significant oil discovery made since 1987;
  • The national production is declining heavily – 370.000bpd in 1997 to 230.000 bpd in 2009;
  • There is a need to find fiscal terms to reflect the petroleum potential and oil price;
  • There is a need to listen more to petroleum professionals;
  • Review the new petroleum law in line with the country petroleum potential and changing economic environment;
  • Now gas/condensate potential in deep offshore acreage.