The Oil and Gas Alternative Dispute Resolution Centre (ADRC) has resolved its first case in line with the objective of the Federal Government for speedy resolution of disputes in the industry.
Mr Paul Osu, Head, Public Affairs, Department of Petroleum Resources (DPR), made the announcement in a statement issued on Monday in Lagos.
Osu said four other cases were currently at hearing stage before the ADRC, one of the units of the National Oil and Gas Excellence Centre, inaugurated by President Muhammadu Buhari.
He said: “The ADRC has a six-member Advisory Council and a 20-member Body of Neutrals mediating on disputes between players in the oil and gas value chain.”
Osu said the setting up of the ADRC was in consonance with the provisions of the Petroleum Act Cap P10 Laws of the Federation 2004. He noted that the law emphasised the need for settlement of disputes through alternative dispute resolution mechanisms without recourse to litigation.
“The ADRC has successfully resolved its first case and we have four others pending. This is a positive step for the industry because the objective of setting up the centre is to reduce cost, enhance safety and add value to the sector. With this, we can begin to win investors confidence thereby attracting more investments to the oil and gas sector,” Osu said.
He explained that participating or referring of cases to the ADRC was voluntary, adding that it would be very beneficial to the parties.
Recall that the Advisory Council is made up of the Director of the DPR, Mr Sarki Auwalu (Chairman), Justice Saliu Said, Justice Cecelia Olatoregun, Chief Bayo Ojo (SAN), Mr Daere Akobo and Mr Nicholas Odinuwe.