Minister of State for Petroleum Resources, Sen. Heineken Lokpobiri, has reiterated the federal government’s dedication to transforming the oil industry to build investor confidence, ensure mutual benefits for Nigerians and partners, and position the country as a prime energy investment destination.
Lokpobiri made the this known during a courtesy visit from the senior vice president for Deepwater at ExxonMobil Upstream Company, Hunter Farris, who arrived in Nigeria to mark the 20th anniversary of first production from the Erha Deepwater Field.
Farris expressed ExxonMobil’s appreciation for the long-standing partnership and reaffirmed the company’s commitment to deepwater operations in Nigeria.
The minister highlighted ExxonMobil’s plans for additional investments, including a new Floating Production Storage and Offloading (FPSO) vessel, brownfield renovations, multiple wells, and subsea infrastructure. These projects could recover up to one billion barrels of oil in phases, aligning with national production goals.
Lokpobiri commended ExxonMobil’s role in driving output and urged other operators to pursue new investments while stabilising existing ones. He noted that reforms under President Bola Ahmed Tinubu’s
leadership continue to strengthen the sector for optimal value from Nigeria’s natural resources.
The meeting underscores ongoing efforts to revitalise the oil industry amid global energy transitions and domestic economic priorities.
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