President Bola Tinubu has reiterated his administration’s unwavering commitment to providing essential interventions in the oil and gas sector, aligning with the provisions outlined in the Petroleum Industry Act (PIA). The President made these statements during a meeting with a delegation from Chevron Corporation, led by Mr. Clay Neff, President of Chevron International Exploration and Production, held on Tuesday in Abuja.
President Tinubu underscored Nigeria’s determination to strengthen its enduring partnership with Chevron, aligning it with the evolving dynamics within the oil and gas industry. He welcomed Chevron’s dedication to expanding its investments in both shallow and deep-water operations in Nigeria, highlighting the ongoing $1.4 billion drilling project in collaboration with the Nigerian National Petroleum Company Limited (NNPCL). Additionally, the President commended Chevron for its commitment to reducing its carbon footprint within the country.
Addressing the delegation, President Tinubu emphasized, “You must see the PIA as a legacy law. We assure you of quick interventions and a swift response to any issues you may encounter in your operations within our country. Nigeria takes pride in the 60-year partnership with Chevron, and we believe this collaboration will be fortified to yield mutually-beneficial value for both your shareholders and the improved living standards and economic opportunities for our population.”
Mr. Neff, in his response, pledged Chevron’s continued adherence to the highest standards of operation while fulfilling its investment commitments in Nigeria. He highlighted the company’s contributions to the domestic gas supply, pointing out the delivery of 25% of gas through a joint venture with NNPC Limited.
The discussions between President Tinubu and the Chevron delegation reflect a shared commitment to sustaining and enhancing the partnership for the overall benefit of Nigeria’s economic development and the well-being of its citizens. The President expressed optimism that this collaboration would continue to play a crucial role in the nation’s progress in the oil and gas sector.
