By Oke Peter

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has said timely approval of field development plan is a win-win situation for both the government and investors.

Kachikwu, in his presentation at a technical symposium organised by the Society of Petroleum Engineers, Nigeria in Lagos, described the FDP as one of the fundamental criteria in the development of upstream exploration and production projects in the country.

He said, “Before a newly discovered field can be developed or a matured oilfield is to be redeveloped and its hydrocarbon produced, an FDP is required.

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