Highlight

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

510

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.”

Leave a comment

Related Articles

FG set to partner private sector to raise $10bln for power sector

The Federal Government has unveiled an ambitious plan to collaborate with the...

Nigeria Customs Service Exceeds 2024 Revenue Target, Rakes in N5.7trn

The Nigeria Customs Service (NCS) has announced a remarkable revenue generation of...

Alleged bullying: FG suspends 13 FGC Enugu students as governor orders arrest

The Federal Government has taken swift action against bullying in Federal Government...

Edo Gov. Okpebholo appoints Oshimhole’s son commissioner, SSG, AG, others

The new governor of Edo State, Sen. Monday Okpebholo, has announced Mr....

Rodri Brushes Off Vinicius, Real Madrid at Ballon d’Or ceremony

Recently crowned 2024 Ballon d’Or winner Rodri has downplayed the absence of...

Super Eagles Land in Abidjan, Gear Up for Benin Republic Clash

The Nigerian national football team, the Super Eagles, has arrived in Abidjan,...

Nigeria signs $1.2bln deal with CNCEC to revive aluminium smelter

Nigeria has taken a significant step towards reviving its dormant aluminium smelter...

VP Shettima Arrives in Benin City for Edo Governor’s Inauguration

Vice President Kashim Shettima has arrived in Benin City, Edo State capital,...

Breaking: Powerful explosion rocks Jos, many people feared dead

A devastating explosion shook the city of Jos on Tuesday morning, sending...

NNPC Ltd. boss, Mele Kyari, thrashes allegation of sabotaging Dangote Refinery as baseless

Mr. Mele Kyari, the Group Chief Executive Officer of the Nigerian National...

Infanticide: US places $25,000 bounty on fleeing Nigerian parent

The United States of America has offered a $25,000 reward for anyone...

Tinubu, Abiodun, Sanwo-Olu, others extol Pastor Tunde Bakare at 70

Pastor Tunde Bakare, the founder of Citadel Global Community Church, is a...

NNPC Ltd. Unveils Plan to Resolve Nigeria’s Energy Trilemma

Nigerian National Petroleum Company Limited (NNPC Ltd) Group CEO, Mr. Mele Kyari,...

Breaking: IPMAN Secures Direct Supply Deal with Dangote Refinery, Promises Steady, Affordable Fuel Nationwide

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced a landmark...

“Operation Sweep”, FCT demolition squad, faces backlash from residents, Wike reacts

The recent demolition exercise by “Operation Sweep”, a task force set up...

Nov. 16 Ondo guber poll: Sensitive election materials arrive

Ahead of the Saturday, October 16 governorship poll in Ondo State, sensitive...

China’s imports from Nigeria soar to $15.1bln, 36.1% increase

China’s imports from Nigeria have reached an all-time high of $15.1 billion...

Vandals destroy TCN towers, disrupt power supply in Abuja

The Transmission Company of Nigeria (TCN) has reported a fresh attack on...

Amid opposition, Kano Rep. Jibrin promises to push Tinubu’s tax reform bills through in NASS

In spite of growing opposition to President Bola Tinubu’s controversial tax reform...

FCT Police bust notorious car theft syndicate, arrest suspect, recover 3 vehicles

The Federal Capital Territory (FCT) Police has confirmed the arrest of a...