By Ralph Sesay
Bravura A.S., a Norwegian company operating in facilitating and advising government over investment in oil and gas and other natural resources sector, has met the Director General of the Petroleum Directorate, Mr.Timothy Kabba and the Minister of Trade, Edward Hinga Sandy over the adoption of the Norway model in the management of Oil and Gas sector and other natural resources in the country.
Mr.Tommy Fjeldheim, Founder and CEO of Bravura A.S. Norway who is leading a team from Norway, says his company is encouraging officials of the Sierra Leone Government to use the Norway model to effectively manage its natural resources for the good of its people.
At the Petroleum Directorate office in Kingtom, the Norwegian team made a PowerPoint presentation to the Director General of the Petroleum Directorate and the Minister of Trade on how Norway with a population of about five million has been able to adopt a model to effectively manage its oil and gas sector to exclusively benefit its people.
He recounted that the country was able to benefit hugely from the sector which has been able to support Kindergarten education, health care and other social services.
The Oil and Gas sector, he continued, accounts for a quarter of the country’s GDP and that over one trillion dollars is being generated so far from the sector.
The founder and CEO of Bravura noted that he was impressed with the reforms made so far by the Government of Sierra Leone, especially in positioning the sector for investment.
Legal Representative, Knut Sverre Anderson, during his presentation gave an overview of the Norwegian Model and noted that development of sound policies and laws that will benefit the people instead of investors are keys, amongst many other issues.
He added that the process is long term, expensive and time consuming and that it is critical that a very robust strategic communication plan is in place to guide the communication between Bavura and the Government of Sierra Leone.
They encouraged government officials to consider their proposal and later take them through what is expected from the government culminating into the signing of an MOU between Government and Bavura Norway.
Director General, Petroleum Directorate, Timothy Kabba, thanked and welcomed the team from Norway and recounted that the new administration under President Bio is very committed to have a new narrative in terms of the governance around the oil and gas sector.
He continued that ensuring that the laws are efficient and effective enough to guarantee benefits for the people rather than the investors is pivotal for them as a government, he stated.
Minister of Trade also in his remarks thanked the team and underscored the point that they are ready to work with credible investors and that the new administration is interested in working towards anything that will bring benefits for the citizens.
Both officials assured the Norwegian company of further talks around the proposal with a view to develop a sustainable MOU.