NNPC Ltd. committed to building huge oil and gas infrastructure to make the sector thrive.

The Nigerian National Petroleum Company Limited (NNPC Ltd) says it will continue to invest in the development of huge oil and gas infrastructure to make it easy for operators and prospective investors to carry out their business in Nigeria.

Mrs. Oritsemeyiwa Eyesan, Executive Vice President, Upstream, disclosed this at the ongoing Offshore Technology Conference (OTC) in Houston, Texas, United States of America, on Tuesday.

Speaking at one of the panel sessions of a luncheon organized by the Petroleum Technology Association of Nigeria (PETAN), with the theme, “Sustainable Energy Solutions for Africa’s Future (Nigerian Perspective),” Eyesan stated that NNPC Ltd.’s objective was to ensure that there is a healthy balance of energy sources in the country.

According to the statement from Mr. Olufemi Soneye, the Chief Corporate Communications Officer of NNPCL Ltd., late Wednesday, Eyesan explained that though the oil and gas sector is not where it ought to be, much progress has been made since last year’s edition of the OTC in terms of opening up the sector for investments and infrastructural development.

While she identified funding as the major challenge impeding the sector’s development, she also listed some of the bright spots in the industry, including the Executive Orders signed by the President to open up the sector, the imminent resolution of asset divestment by international oil companies, and the aggressive execution of gas infrastructure projects such as the Obiafu-Obrikom-Oben (OB3) Gas Pipeline, which she said would be completed in the next quarter.

Speaking at the panel session, Engr. Elohor Aiboni, the Managing Director of SNEPCo, and Mr. Jim Swartz, the Managing Director of Chevron Nigeria Ltd., clarified that their companies’ divestment from onshore and shallow water assets was a global realignment of their portfolios, not a departure from Nigeria.

On his company’s commitment to remain in Nigeria, Swartz said: We are excited about what the government is doing to build confidence in investors. We are excited to work with NNPC Ltd.”