According to the Petroleum Industry Act, or PIA, President Bola Tinubu’s administration will keep making the necessary interventions in the oil and gas sector.
President Tinubu declared that Nigeria would fortify its enduring alliance with the multinational corporation in accordance with the changing conditions in the oil and gas sector during a meeting with a delegation headed by Mr. Clay Neff, President of Chevron International Exploration and Production, on Tuesday in Abuja.
In addition to highlighting Chevron’s ongoing $1.4 billion drilling project with the Nigerian National Petroleum Company Limited, or NNPCL, the President praised the company’s commitment to increasing its investments in shallow and deep sea activities in Nigeria.
Additionally, he praised Chevron for its commitment to lowering its carbon footprint in the nation.
The PIA needs to be viewed as a legacy law. We guarantee prompt responses and solutions for any problems you may have while conducting business in our nation.
“We are delighted about Nigeria’s 60-year relationship with Chevron, and we think that this cooperation will be enhanced to create value that will benefit both parties—your shareholders and our people’s living standards and economic prospects,” President Tinubu stated.
During his speech, Mr. Neff promised that even while the firm fulfills its investment obligations in Nigeria, it will carry on operating according to the strictest standards.
He emphasized the company’s contributions to the provision of gas in the country, pointing out that 25% of the gas is delivered through a joint venture with NNPC Limited.