Oil Output: FG Pledges Conducive Environment, Mobil Says No Plan to Leave Nigeria

Emmanuel Addeh in Abuja

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has reaffirmed the federal government’s commitment to enhancing production and fostering a conducive environment for investors in the energy sector.

The minister made the remarks during a meeting with ExxonMobiI’s Chief Executive Officer, Mr. Shane Harris, and his team in Abuja, according to a statement yesterday by his Special Adviser on Communications, Nneamaka Okafor.

Lokpobiri highlighted the ministry’s strategic focus on creating robust collaborations and sharing innovative ideas with International Oil Companies (IOCs) to strengthen the country’s oil sector.

“We are dedicated to ramping up production and ensuring a supportive environment for all investors by doing everything possible to maintain investor confidence in our country,” Lokpobiri stated.

The minister commended ExxonMobiI for its commitment to the sector in the country, especially its planned investments, noting that it aligns perfectly with the nation’s objectives.

“ExxonMobiI’s planned investments are commendable and greatly appreciated. This renewed relationship is a testament to the mutual goals we share for the future of our energy sector,” he said.

Lokpobiri hinted at the ministry’s support for both international and indigenous oil operators, assuring the company’s chief executive of the government’s support.

He highlighted the importance of creating a thriving environment for all stakeholders, which he hoped would result in further growth of hydrocarbons production in Nigeria.

 “We fully support ExxonMobil and other IOCs, just as we do with independent operators. Our collaborative efforts are key to the sustainable growth of our energy sector,” he added.

Besides, the minister stressed the importance of continued dialogue and partnership between the government and IOCs to drive innovation and growth in the sector.

Speaking during the meeting, the ExxonMobil boss, Harris, hinted at significant new investments that the company is injecting into Nigeria’s energy sector, expressing confidence in the renewed relationship between ExxonMobiI and the Nigerian government.

The ExxonMobil chief executive assured that the oil giant was not planning to leave Nigerias, stressing that the company was planning further investments in the country. “We are excited about the prospects these new investments bring,” the statement quoted Harris as saying.

“Our partnership with the Nigerian government is crucial for sustainable growth, and we look forward to continuing our collaboration as we have no plan to leave,” Harris added.

A number of the IOCs in the country, including Shell, Agip, TotalEnergies and ExxonMobil, have recently moved to exit their onshore and shallow water operations for Nigeria’s deepwater oil and gas assets.