Bayelsa State Government in partnership with the Organized Private Sector, is planning to create about 30,000 jobs in oil and gas and other sectors of the economy.
To realise this, the government has initiated a bilateral agreement with a United Kingdom-based oil company, Heritage Oil Plc, and other major companies and institutions to broaden the base of the economy, generate employment and create high level skills in the State.
Governor Seriake Dickson said on Thursday that with the enforcement of the Federal Government’s local content development policy, unemployment would be minimised and a an enduring peace and stability would be enthroned in the state and the Niger Delta region.
Speaking during the signing of the Memorandum of Understanding in Yenagoa, Dickson said Bayelsa State was ready for active participation in the oil and gas industry.
Under the agreement, Heritage Oil Plc, which is listed on the London Stock Exchange, has an equity share of 45 per cent while Bayelsa Oil Company will take 55 per cent in the joint venture, named Petrobay.
He noted that the headquarters of Petrobay would be situated in Yenagoa and would have the capacity to compete favourably with other stakeholders both in the upstream and downstream sectors of the oil industry.