According to President Bola Tinubu, his administration would keep implementing the necessary interventions in the oil and gas sector following the terms of the Petroleum Industry Act (PIA).
Speaking on Tuesday in Abuja, Tinubu announced that Nigeria will fortify its long-standing alliance with the multinational corporation following the changing dynamics of the oil and gas sector. The delegation was led by Clay Neff, president of Chevron International Exploration and Production.
Regarding Chevron’s ongoing $1.4 billion drilling project with the Nigerian National Petroleum Company Limited (NNPCL), the president praised the company’s pledge to increase its investments in shallow and deep sea activities in Nigeria.
Additionally, he praised Chevron for its commitment to lowering its carbon footprint in the nation. ”You must see the PIA as a legacy law. We assure you of quick interventions and turnaround on any issue you may have in your operations in our country.
”Nigeria is proud of the 60-year partnership with Chevron, and we believe this partnership will be strengthened to add mutually beneficial value for the benefit of your shareholders as well as the living standards and economic opportunities of our population,” President Tinubu said.
Neff promised during his speech that the company would uphold the highest standards of operation while fulfilling its investment obligations to Nigeria. He emphasized the company’s contributions to the provision of gas in the country, pointing out that 25% of the gas is delivered through a joint venture with NNPC Limited.
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