- Chevron invested $908 million in local content in 2020
- Monetises 17 trillion cubic feet of gas for domestic and export sales
- Net daily gas production stood at 88 mcf
In its Corporate Social Responsibility (CSR) Report for 2020, Oil giant Chevron has stated that it invested up to $908 million in local content in 2020. In addition, Chevron spent about $267 million on materials and services obtained from local community contractors as part of its CSR. Chevron also partnered with several indigenous companies in the area of capacity building for local content.
According to the report, Chevron ”….supplies 40 per cent of the Nigerian natural gas market for power and is also the largest shareholder in the West African Gas Pipeline, a 678-km pipeline that supplies gas to Benin, Togo and Ghana, as part of a broader initiative to develop the energy sector in the region.” The report further noted that Chevron plans to end routine gas flaring by supporting the Domestic Gas Supply Obligation and the Nigerian Gas Master Plan as part of its strategy.
”In 2020, Chevron Nigeria continued to monetise recoverable natural gas resources of approximately 17 trillion cubic feet in the Escravos area through a combination of domestic and export sales and use as fuel in company operations.” It said net daily production in 2020 averaged 12,000 barrels of gas liquids and 88 million cubic feet of gas.” the report added.