By Faridat Salifu
President Bola Tinubu reaffirmed the government’s dedication to providing essential interventions in the oil and gas industry in line with the provisions of the Petroleum Industry Act (PIA).
This assertion was made during a meeting with a delegation from Chevron Corporation, led by Mr. Clay Neff, President of Chevron International Exploration and Production, in Abuja on January 23, 2024.
President Tinubu expressed Nigeria’s commitment to fortify its longstanding partnership with Chevron in alignment with the evolving dynamics of the oil and gas sector.
He welcomed Chevron’s pledge to expand its investments in shallow and deep water operations in Nigeria, highlighting the ongoing $1.4 billion drilling project with the Nigerian National Petroleum Company Limited (NNPCL).
Moreover, the President commended Chevron for its efforts to reduce its carbon footprint in the country, emphasizing the significance of the PIA as a pivotal legislation.
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He assured the delegation of swift interventions and resolution of any operational challenges they may encounter in Nigeria.
Neff, in response, reiterated Chevron’s commitment to upholding the highest operational standards while fulfilling its investment commitments in Nigeria.
He underscored the company’s contributions to domestic gas supply and its plans for further expansion and development under the provisions of the Petroleum Industry Act.
Furthermore, Neff outlined Chevron’s initiatives, including the conversion of Oil Mining Leases to Petroleum Mining Leases and Petroleum Prospecting Licences, entry into new deep-water development opportunities, and the renewal of deepwater leases.
Additionally, he highlighted the company’s collaboration with NNPCL in securing financing for an infill drilling program, as well as their focus on environmental sustainability and growth in traditional oil and gas business.
The meeting concluded with mutual optimism for the continued and enhanced partnership between Nigeria and Chevron, with a shared vision of long-term sustainability and economic prosperity.
In the print housestyle, this news story has been presented in an impartial and professional manner, encapsulating the key points and statements from both President Tinubu and Mr. Clay Neff. The language is clear, concise, and adheres to the formal tone expected in a news publication.
