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Oil & Gas Dev: NNPC Pledges Continuous Commitment – A Comprehensive Overview

In a statement by the Nigerian National Petroleum Company Ltd (NNPC) at the ongoing Offshore Technology Conference (OTC) in Houston, Texas, the company has pledged its continuous commitment to the development of oil and gas infrastructure in Nigeria.

The Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan, emphasized the company’s focus on ensuring a healthy balance of energy sources in the country.

Despite the challenges faced by the oil and gas sector, significant progress has been made in opening up the sector for investments and infrastructural development since the last OTC.

The primary obstacle identified is the issue of funding, which has been partially addressed through the signing of Executive Orders by the President to open up the sector.

The NNPC has highlighted several bright spots in the industry, including the imminent resolution of assets divestment by International Oil Companies (IOCs) and the aggressive execution of gas infrastructure projects such as the Obiafu-Obrikom-Oben (OB3) Gas Pipeline, which is expected to be completed in the next quarter.

Moreover, representatives from SNEPCo and Chevron Nigeria Ltd have reassured their commitment to remain in Nigeria, emphasizing their excitement about the government’s efforts to build investor confidence.

This collaboration between public and private sector investors is crucial for Nigeria to achieve its energy goals.

In a related development, the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, has called for increased collaboration between public and private sector investors during the official unveiling of the Gazettes on National Energy Policy and National Energy Master Plan by the Energy Commission of Nigeria.

The minister emphasized that the task of creating a Nigeria with cheap, unlimited energy access should not be left solely to the government.

The Gazettes outline the direction of government’s energy policies and the necessary approaches to achieve the country’s energy goals.

These documents will be presented to the public for further consultation, reflecting the government’s commitment to transparency and collaboration in the energy sector.

The event was attended by several dignitaries, including the Minister of Innovation, Science and Technology, Chief Uche Nnaji; Minister of Defence, Badaru Abubakar; Minister of Budget and Economic Planning, Atiku Bagudu; and Director General/CEO of Energy Commission of Nigeria, Dr. Mustapha Abdullahi.

The NNPC’s commitment to oil and gas development in Nigeria, alongside the government’s initiatives to attract investments and foster collaboration, demonstrates a concerted effort to ensure the country’s energy security and economic growth.