The Department of Petroleum Resources (DPR) has said it will launch the Alternative Dispute Resolution (ADR) Centre for the oil and gas industry with the inauguration of the advisory council and body of neutrals in Lagos on Thursday (today).
The ADRC, according to a statement by the agency’s Head of Public Affairs, Mr Paul Osu, is one of the centres in the recently launched DPR National Oil and Gas Excellence Centre.
The statement said the ADRC would offer arbitration, mediation and conciliation services for the industry.
Osu said, “The centre will leverage industry technical experts, Alternative Dispute Resolution practitioners and resources of the National Data Repository to provide fair and balanced resolutions of industry-related disputes from an informed position.
“The ADRC is structured to adequately resolve disputes in a manner consistent with regulatory and commercial interests of the industry.”
He said this would address suboptimal 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.
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