By Mariam Eko & Karen Ofime-Smith

THE NNPC/FIRST E&P OML83 and 85 Joint Venture, have inaugurated a Development Trust for its host communities in compliance with the Petroleum Industry Act 2021 mandate. The inauguration ceremony which was held at the Golden Tulip Hotel in Yenagoa, Bayelsa State, hinted that the Trust, named ‘KEFFESO Host Communities Development Trust’ (KHCDT), is a not-for-profit and non-political organisation which will be governed by a constitution.

In support of its activities, the NNPC/FIRST E&P JV will contribute three per cent of its actual operating expenditure in the upstream petroleum operations each preceding calendar year to a fund established by the Trust. The KHCDT will cater to the socio-economic needs of 11 communities in Bayelsa state, including Koluama 1, Koluama 2, Ekeni, Fish Town, Foropa, Ezetu 1, Ezetu 2, Sangana, Opu Okumbiri, Okumbiribeleu and Oginibri. The major highlight of the inauguration ceremony was the signing of oaths of allegiance as a trustee of the KEFFESO Host Communities’ Development Trust (KHCDT) by the trustees.

The oath was administered by the Chief Magistrate, Bayelsa State, Stanley Ekeru. Speaking during the inauguration ceremony, Executive Director, Corporate Services, FIRST E&P, Emmanuel Etomi, noted that the establishment of the Trust was in full compliance with the requirements of chapter three of the Petroleum Industry Act, PIA.