The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has ranked Shell Petroleum Development Company of Nigeria (SPDC)-operated onshore joint venture as the industry leader in the implementation of chapter three of the Petroleum Industry Act (PIA), which deals with host community development.
NUPRC disclosed this during the announcement of fund managers for the Host Community Trust Funds in Abuja.
The Assistant Director of Host Communities Department, NUPRC, Olatokunbo Karimu, said from the 61 fully incorporated Host Community Development Trusts (HCDTs) in the industry, SPDC and its joint venture partners have 23, followed by Agip with 13 while Newcross Petroleum has seven to come third.
He said a total of 61 have been fully incorporated by the Corporate Affairs Commission (CAC).
“SPDC, on behalf of the NNPC/SPDC/TotalEnergies/NAOC joint venture has upped the JV’s HCDT to 25 and has unveiled the trusts in three of its states of operations of Rivers, Bayelsa and Delta,” he said.
The SPDC Director and Country Head, Corporate Relations, Igo Weli, said the firm plans to complete the incorporation of 33 HCDTs for the joint venture by the end of the year.
Weli said the firm’s next port of call for HCDT unveiling is Imo State where the joint venture’s multi-million dollar Assa North/Ohaji South Gas Development Project is situated.
Source: Guardian
