The Federal Government has restated its commitment to keeping Nigeria attractive to global energy investors by sustaining policies and incentives that encourage fresh capital inflows into the oil and gas sector. Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, gave this assurance during an inspection visit to the NNPC/Chevron Joint Venture Escravos Gas-to-Liquids (EGTL) facility in Delta State. He noted that the government is introducing measures aimed at unlocking idle oil assets and boosting sustainable production growth.
Lokpobiri stressed that the administration’s role is to provide a globally competitive investment environment, urging operators to expand their operations in Nigeria. He added that any oil block left undeveloped for decades should be farmed out to partners ready to invest rather than remain dormant. As part of this strategy, the government is considering enforcing the “drill or drop” provision in the Petroleum Industry Act, which would see idle assets reassigned to companies with the capacity to develop them.
Commending the NNPC/Chevron JV for its operational excellence, the minister encouraged other operators to adopt similar efficiency and collaboration. He also emphasised that increasing Nigeria’s oil production is crucial to securing the country’s share of global capital expenditure in the energy sector.
Chevron Nigeria Limited’s General Manager for the Joint Venture, Segun Kuteyi, expressed optimism about the company’s future in Nigeria, highlighting ongoing investments aimed at monetising existing resources. He described Lokpobiri’s visit as a sign of the administration’s seriousness in supporting the sector. Chevron’s Chairman and Managing Director, Jim Schwartz, also praised the government’s policies and the enabling framework provided by the Petroleum Industry Act, noting that the company remains one of Nigeria’s most committed international operators after six decades of presence.
The visit to the EGTL facility reinforced the partnership between the Federal Government and Chevron, with both sides pledging continued collaboration to unlock the country’s oil and gas potential, drive sustainable production growth, and strengthen Nigeria’s energy sector.
