The Nigerian National Petroleum Company Ltd held a strategic engagement with International Oil Companies (IOCs) operating in Nigeria as part of a move to chart a new course for the country’s oil and gas sector.
The Group Chief Executive Officer of the NNPCL, Mele Kyari, held the meeting with the IOC leadership on the sidelines of the ongoing CERAWeek 2024 by S&P Global in Houston, United States.
In a list on Wednesday, the state-owned company revealed some of the IOCs present at the meeting namely: Shane Harris, Chairman/MD, ExxonMobil; Fabrizio Bolondi, Vice Chairman/MD, ENI; Jim Swartz, Vice President, Capital Projects, Chevron; Rick Kennedy, Chevron.
Advertisement
Others were, Osagie Okunbor, MD, SPDC and Chairman of Shell Companies in Nigeria; and Matthieu Bouyer, MD/CEO, TotalEnergies Upstream Companies in Nigeria.
The Nigerian team in attendance during the meeting were Mrs. Oritsemeyiwa Eyesan, EVP Upstream, NNPC Ltd., and Bala Wunti, Chief Upstream Investment Officer, NNPC Ltd.
Kyari, who was entrusted with the leadership of the NNPCL by President Bola Ahmed Tinubu, has made deliberate efforts to create a win-win platform for ICOs in the country and the government.
The Tinubu-led government has an ambition of returning the Nigerian economy to the path of growth by positioning Nigeria as the premier investment destination for the oil & gas sector in Africa.
The President, on March 5, removed obstacles to investments in the oil and gas sector to harness the nation’s resources.
He signed an Executive Order initiating the amendment of primary legislation to introduce fiscal incentives for oil & gas projects, reduce contracting costs and timelines, and promote cost efficiency in local content requirements.
The NNPCL GCEO at the meeting explained the implication of the Executive Order for the IOCs operating in the country.
According to the statement by the NNPCL, Kyari expressed optimism that the “Presidential Executive Order on Oil & Gas aimed at fostering investment in the Oil & Gas Industry and positioning Nigeria as the preferred investment destination for the sector in Africa.
“The partners collectively acknowledged the Executive Order’s significance and the substantial value it has brought to the sector,” the statement said.