- FG reaffirmed its commitment to sustaining policies and incentives that keep Nigeria attractive for energy investment.
- Heineken Lokpobiri inspected the NNPC/Chevron EGTL facility, praised its operational excellence, and encouraged further investments to boost sustainable production.
The Federal Government (FG) has pledged to maintain policies and incentives that will keep Nigeria attractive for energy investments, Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, said during an inspection of the NNPC/Chevron Nigeria Limited (CNL) Joint Venture Escravos Gas-to-Liquids (EGTL) facility in Delta State.
“Our duty is to create a globally competitive environment so you can expand operations,” Lokpobiri said in a statement on Wednesday. “We can only grow sustainable production with more investment. It is time to develop all available blocks, and where operators are not ready, they should farm them out to partners rather than wait decades.”
Lokpobiri praised the NNPC/CNL joint venture for operational excellence and said the government is considering activating the “drill or drop” provision in the Petroleum Industry Act to spur asset development.
Chevron Nigeria JV General Manager Segun Kuteyi welcomed the Minister’s visit, indicating the administration’s seriousness in fostering collaboration. “We are seeing increased resource allocation from our corporate office to expand and monetise our assets,” he said.
Chevron’s Chairman and Managing Director Jim Schwartz credited the Petroleum Industry Act and government support for attracting new investment. “We still have significant resources to develop, and with continued support, we can grow production,” he said.
The visit highlighted the government’s push to boost output, unlock oil and gas potential, and sustain economic growth through joint investments with international partners.