The Nigerian National Petroleum Company Ltd (NNPC) announced its commitment to investing in the development of extensive oil and gas infrastructure to facilitate operations and attract potential investors to Nigeria.
During the ongoing Offshore Technology Conference (OTC) in Houston, Texas, United States of America, the Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan, made this declaration, according to a statement by the Chief Corporate Communications Officer of the company, Olufemi Soneye.
Eyesan, speaking at a luncheon organized by the Petroleum Technology Association of Nigeria (PETAN) with the theme: “Sustainable Energy Solutions for Africa’s Future (Nigerian Perspective)”, emphasized NNPC’s mission to maintain a diverse range of energy sources in the nation.
She acknowledged that although the oil and gas sector has room for improvement, significant advancements have been made since the previous year’s OTC edition in terms of attracting investments and enhancing infrastructure. Eyesan highlighted funding as a major obstacle hindering sector development and noted some positive developments, such as the Executive Orders issued by the President to facilitate sectoral growth. Moreover, Eyesan pointed out the imminent resolution of the divestment of the assets by the International Oil Companies (IOCs) and the proactive implementation of gas infrastructure projects, including the Obiafu-Obrikom-Oben (OB3) Gas Pipeline, expected to be finalized in the upcoming quarter.
During the panel session, the Managing Director of SNEPCo, Elohor Aiboni, and the Managing Director of Chevron Nigeria Ltd, Mr. Jim Swartz, clarified that their companies’ divestment from onshore and shallow water assets was part of a global portfolio realignment strategy and should not be misinterpreted as an exit from Nigeria.
Swartz expressed his company’s commitment to staying in Nigeria, stating, “We are enthusiastic about the government’s efforts to instill confidence in investors. We look forward to collaborating with NNPC Ltd.”
Meanwhile, the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, called for enhanced collaboration between public and private sector investors to achieve the nation’s energy objectives.
Ekpo made this statement during the official unveiling of the Gazettes on National Energy Policy and National Energy Master Plan by the Energy Commission of Nigeria at the PTDF auditorium in Abuja.
He emphasized that creating a Nigeria where citizens have affordable, abundant energy access requires collective efforts from both public and private entities. Ekpo urged, “To reach our energy targets, I encourage our esteemed partners in the public and private sectors to collaborate, leveraging cooperation, creativity, and technology.”
The minister characterized the journey towards a sustainable energy future as a marathon rather than a sprint, emphasizing the need for resolute commitment, innovative leadership, and unwavering dedication.
He highlighted the pivotal role of energy in driving social development, accelerating economic growth, and safeguarding the environment. Ekpo stressed the importance of current decisions in shaping the future for upcoming generations, advocating for collaborative efforts to ensure universal access to affordable energy in Nigeria.
Ms. Olu Verheijen, Special Adviser to the President on Energy, unveiled the Gazettes, announcing plans for public consultation on the documents. The Gazettes outline the government’s policy direction and detail various strategies essential for accomplishing the nation’s energy objectives.
Dignitaries present at the event included the Minister of Innovation, Science, and Technology, Chief Uche Nnaji; Minister of Defence, Badaru Abubakar; Minister of Budget and Economic Planning, Atiku Bagudu; Director General/CEO of Energy Commission of Nigeria, Dr. Mustapha Abdullahi, among others.
