The Nigerian National Petroleum Company Ltd (NNPC Ltd) has affirmed its ongoing commitment to invest in significant oil and gas infrastructure, aiming to facilitate smoother operations for operators and potential investors within Nigeria.
At the Offshore Technology Conference (OTC) in Houston, Texas, United States of America, the Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan, made this declaration during a panel session at a luncheon organised by the Petroleum Technology Association of Nigeria (PETAN). The session, themed “Sustainable Energy Solutions for Africa’s Future (Nigerian Perspective),” highlighted NNPC Ltd.’s objective to ensure a balanced energy mix in the country.
Eyesan noted that although the oil and gas sector still faces challenges, significant progress has been achieved since the previous OTC edition in terms of attracting investments and advancing infrastructure.
Identifying funding as a major obstacle to sectoral development, she cited positive developments such as Executive Orders aimed at sectoral openness, imminent resolution of assets divestment by International Oil Companies, and the proactive implementation of gas infrastructure projects like the Obiafu-Obrikom-Oben (OB3) Gas Pipeline, slated for completion in the next quarter.
During the panel discussion, the managing directors of SNEPCo, Engr. Elohor Aiboni, and Chevron Nigeria Ltd., Mr. Jim Swartz, clarified that their companies’ divestment from onshore and shallow water assets represented a global portfolio realignment rather than an exit from Nigeria.
Expressing optimism about their continued presence in Nigeria, Swartz emphasised the excitement about the government’s efforts to bolster investor confidence, affirming readiness to collaborate with NNPC Ltd.