Oil Firm Calls For Regulatory Clarity To Boost Oil Sector

Esso Exploration and Production Nigeria Limited (EEPNL), an affiliate of ExxonMobil, has urged the development of clearer regulatory frameworks and stronger human capital development to unlock Nigeria’s oil and gas potential and drive production growth.

Speaking at the 2025 Nigerian Association of Petroleum Explorationists (NAPE) Conference in Lagos, the executive director, Development, at EEPNL, Etabuko Abirhire, said Nigeria’s ambitious production targets of two million barrels per day by 2027 and three million barrels per day by 2030 would require policy clarity, operational efficiency, and sustained collaboration among key industry stakeholders.

“Operational efficiency and human capital development are foundational to unlocking the sector’s full potential,” Abirhire said. “Regulators must provide clarity not just at the macro level but also during execution. Achieving our production goals will demand deliberate effort, collaboration, and disciplined execution by all stakeholders.”

He commended ongoing reforms under the Petroleum Industry Act (PIA) and recent presidential directives aimed at strengthening investor confidence, especially in deepwater exploration. However, he stressed the need for faster and more straightforward implementation of these policies to achieve tangible results.

Abirhire also noted progress made through collaboration with the Nigerian National Petroleum Company Limited (NNPCL) and the Nigerian Content Development and Monitoring Board (NCDMB), saying that evolving governance structures and pragmatic local content policies would enable large-scale project delivery.

Showcasing ExxonMobil’s approach to operational excellence, he highlighted the company’s integrated efficiency model, which leverages advanced technology and skilled personnel to enhance productivity and reduce costs. “Technologies like our Discovery 6 Supercomputer have cut seismic processing time from months to weeks, accelerating decision-making and project start-up,” he added.

Responding to industry concerns on regulatory clarity, Olayemi Adeboyejo, Commission Secretary and Legal Adviser at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), reaffirmed the regulator’s commitment to transparency and adaptability.

“Regulation is the architecture of efficiency,” Adeboyejo said. “The PIA provides a robust framework for investor confidence, and we remain open to feedback to ensure clarity and competitiveness.”