The federal government has called on oil companies operating in the country to sell their idle assets to others capable and willing to develop them, reaffirming a strengthened partnership with Chevron Nigeria Limited.
This is to accelerate Nigeria’s oil production and optimise resource utilisation.
The minister of state for Petroleum Resources (Oil), Senator Heineken Lokpobiri, in Delta State, noted that “The time has come for us to develop all available blocks. Where operators are not ready to develop, it’s better to farm out to partners rather than wait 20 or 30 years,” he said emphatically. “Our obligation as government is to provide a globally competitive environment to allow you to expand what you are already doing,” the minister stated in a release by his Media and Communication aide, Nneamaka Okafor.
During an official inspection of the NNPC/Chevron Nigeria Limited (CNL) Joint Venture EGTL facility in Escravos, Delta State, led by the minister, Lokpobiri reiterated the federal government’s commitment to sustaining policies and incentives to ensure Nigeria remains an attractive destination for energy investments.
“Since we assumed office, things have changed. Our obligation as government is to provide a globally competitive environment to allow you to expand what you are already doing,” the Minister said. “My duty is to encourage you to expand your investment in the country. We can only grow sustainable production if we have investments. As a government, our goal is to give you the best incentives to enable sustainable growth.
SOURCE: LEADERSHIP NEWSPAPER
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