Both parties reached an amicable resolution on all outstanding matters, following collaborative engagements facilitated by the Federal Government. According to a source in the ministry, there were multiple rounds of meetings since the beginning of the year under the supervision of government authorities, leading to the agreement, which reflects the shared commitment to promote industrial harmony, supporting national production goals and enhancing the overall wellbeing of personnel within the oil and gas sector.
The agreement also clearly indicates direction to both parties under adherence to federal laws and industry regulations. The agreement underscores SEEPCO’s dedication to upholding regulatory compliance, fostering capacity development for Nigerian professionals and sustaining open dialogue with stakeholders.
Both parties have reaffirmed their commitment to internal resolution of matters and proactive engagement in addressing future issues.
Sterling Oil expressed appreciation to PENGASSAN leadership, the Ministry of Petroleum Resources, Ministry of Labour and Employment, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and NNPC Limited, for their vital roles in facilitating a fair agreement.
This resolution, the company said in a statement, marked a positive step toward strengthening trust and cooperation across the industry.
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