PENGASSAN seeks engagement of stakeholders on JV cash calls, others

PENGASSAN

PENGASSAN

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called on the Federal Government and the National Assembly to engage stakeholders in the implementation of new Joint Venture (JV) cash calls and all processes leading to the passage of the Petroleum Industry Governance Bill (PIGB) as well as the amendment of the Nigeria LNG (NLNG) Act.

The oil workers made the appeal in a communiqué issued at the end of the association’s National Executive Council (NEC) meeting in Abuja.

They commended government’s efforts at exiting the existing payment arrangement, which the senior workers maintained had resulted in government’s indebtedness to the international oil companies (IOCs).

“The NEC-in-session appreciates Federal Government’s efforts in the payment of arrears of joint venture cash calls, particularly the establishment of a roadmap to clear outstanding cash call arrears.

“The NEC-in-session reiterates the need for the Government to engage the labour unions in the implementation of the proposed new Joint venture cash calls structure which is scheduled to commence in January 2017,” the communication read in part.

On a recent attempt to amend the NLNG Act (Fiscal, Guarantees, Assurances and Incentives) by the House of Representatives, PENGASSAN said the move would alter operations in the nation’s most productive public corporation.

It also noted that the proposed amendment would discourage inflow of foreign investment, result in loss of $25 billion, 18,000 potential jobs as well as reverse the gains made so far containing gas flaring in the oil-rich Niger Delta region.

The association, therefore, advised the parliament to consult widely before eventually embarking on the exercise.The trade union particularly commended the Senate Joint Committee on Petroleum for facilitating a public hearing but demanded that an inclusive stakeholders’ summit be convened to accommodate all interests.

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