All is now set for the formal flag-off of the Oil and Gas Industry Alternative Dispute Resolution Centre (ADRC).
The Department of Petroleum Resources (DPR), according to a statement by the Head of Public Affairs, Mr Paul Osu, will be inaugurating the Advisory Council and Body of Neutrals in Lagos tomorrow.
The Oil and Gas Industry Alternative Dispute Resolution Centre (ADRC), a flagship centre in the DPR National Oil and Gas Excellence Centre (NOGEC), is expected to offer Arbitration, Mediation and Conciliation services for the industry. The centre will leverage industry technical experts, Alternative Dispute Resolution Practitioners and resources of the National Data Repository (NDR) to provide fair and balanced resolutions of industry-related disputes from an informed position.
According to the DPR’s spokesman, Mr. Osu, the ADRC is structured to adequately resolve disputes in a manner consistent with regulatory and commercial interests of the Industry.
“This will address sub-optimal development of oil and gas assets associated with lingering disputes and the attendant consequences of value erosion in terms of national resource growth, global competitiveness, investment attractiveness, government take and investor’s profitability”, he said.