Jeff Ewing, Chairman/Managing Director, Chevron Nigeria Limited (CNL), has called for collaboration by all stakeholders for the achievement of sustained investment and growth in the oil and gas industry in Nigeria.
Jeff, who made the call while contributing to the panel discussion on ‘Unlocking Nigeria’s Investment Potential,’ at the Nigerian Oil and Gas (NOG) conference in Abuja on Wednesday, noted that the current relative stability in the global oil markets presents an opportunity for both the industry operators and the government to appraise the industry and provide enduring solutions.
He said the industry has an opportunity in rejuvenating old frontier basin exploration, to discover impact resource additions for strategic reserves replacement and growth and opportunities to continue to enhance efficiency and reduce cost.
The Chevron MD also mentioned some steps to ensure growth of the Nigerian gas sector which include efforts in driving initiatives in effective utilisation of the nation’s abundant gas for achieving the goal of energy security, and enacting fiscal terms that encourage the development of small to mid-sized assets/reservoirs as well as non-associated gas fields.
He informed that CNL continues to sustain efforts towards delivering exploration and production projects and activities as well as making significant investments in gas projects, and some of the accomplishments include the $1.2 billion gas and condensate project scope that include drilling, major rig work-overs and associated facilities as well as ongoing offshore and onshore drilling campaigns.
Jeff emphasised CNL’s efforts in playing a lead role in growing supply of high quality domestic gas and monetising liquid rich gas reserves; the reduction of routine flaring by over 90% in the past 10 years as well as the significant successes in Nigerian content development.
Chevron contributes 41% of the total domestic gas supply in Nigeria, according to DPR statistics.
Chevron, he said, is proud to be partners with the Nigerian government to actualise progress in Nigeria’s oil and gas sector for over 50 years, adding that with the right policies, the enormous potential of Nigeria’s oil and gas sector can yield even greater benefits.