The Nigerian National Petroleum Company Ltd (NNPC Ltd) has reaffirmed its dedication to investing in the development of extensive oil and gas infrastructure, creating an enabling environment for operators and potential investors to thrive in Nigeria. This pledge was made by the Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan, at the ongoing Offshore Technology Conference (OTC) in Houston, Texas, USA.
During a panel session organized by the Petroleum Technology Association of Nigeria (PETAN), with the theme “Sustainable Energy Solutions for Africa’s Future (Nigerian Perspective),” Eyesan emphasized NNPC Ltd’s objective of achieving a balanced energy mix in the country. While acknowledging the challenges still facing the oil and gas sector, she highlighted significant progress made since last year’s OTC, including increased investment opportunities and infrastructure development.
Eyesan identified funding as the primary obstacle hindering sector growth but pointed out positive developments such as the President’s Executive Orders aimed at opening up the sector, the impending resolution of asset divestment by International Oil Companies, and the accelerated execution of gas infrastructure projects like the Obiafu-Obrikom-Oben (OB3) Gas Pipeline, slated for completion in the next quarter.
Other panelists, including SNEPCo’s Managing Director, Engr. Elohor Aiboni, and Chevron Nigeria Ltd’s Managing Director, Mr. Jim Swartz, clarified that their companies’ divestment from onshore and shallow water assets was a global portfolio realignment and not a withdrawal from Nigeria. Swartz expressed enthusiasm about the government’s efforts to boost investor confidence and looked forward to collaborating with NNPC Ltd.
This commitment to infrastructure development and sector growth demonstrates NNPC Ltd’s dedication to creating a conducive environment for investment and sustainable energy solutions in Nigeria, poised to drive growth and prosperity in the industry.
LV