President Bola Tinubu says his administration would continue to offer necessary interventions in the oil and gas industry in accordance with the Petroleum Industry Act (PIA).
On Tuesday, the president said while receiving a team from the Chevron Corporation in Abuja.
The trip was led by Clay Neff, the President of Chevron International Exploration and Production.
Tinubu stated that Nigeria will enhance its long-standing collaboration with the international corporation in response to the changing dynamics of the oil and gas industry.
The President praised Chevron’s commitment to increasing its investments in shallow and deep sea operations in Nigeria, highlighting the company’s ongoing $1.4 billion drilling project with Nigerian National Petroleum Company Limited (NNPCL).
He also praised Chevron for its efforts to reduce its carbon footprint in the country.
”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.
In his statement, Neff promised that the firm will continue to operate in accordance with the highest standards, even as it fulfilled its investment obligations in Nigeria.
He emphasized the company’s contributions to domestic gas supply, namely the delivery of 25% gas through a joint venture with NNPC Limited.
He also said Chevron was scaling up its investments in the country with its recent efforts in a new phase of development to include: “the conversion, under the Petroleum Industry Act, of all the NNPCL/Chevron Nigeria Limited Joint Venture (JV) Oil Mining Leases (OMLs) and Agbami OML 127 to Petroleum Mining Leases and Petroleum Prospecting Licences (PPLs); entry into OPL 215 block to boost deep-water development opportunities; signing of 20-year renewal of three deepwater leases; commencement of seismic data acquisition in several deepwater leases; commencement of life extension work on the Agbami project, and, in partnership with NNPCL, securing of $1.4 billion financing to fund the NNPCL/CNL JV infill drilling programme between 2022 to 2026, which includes the drilling of 37 wells in the shallow offshore and onshore Escravos area and associated facilities”.
Neff also reminded President Tinubu that Chevron’s average yearly tax and royalty remittances over the previous three years had totaled $3.4 billion.
”The bold steps you have taken since you assumed office are quite impressive. We are encouraged by our partnership of over 60 years, and we look forward, God willing, to continue that partnership for many decades to come.
”We are also looking at other opportunities as well, while operating with the best environmental practices. We will continue to grow our traditional oil and gas business because we know the countries where we operate are in need of those products, and the world needs those products,” he said.
خرید عمده پاکت جاروبرقی