Mohamed Garba
Nigeria’s Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, has reiterated the Federal Government’s desire to increase investment in the oil and gas sector to boost production levels. Lokpobiri made this known during a one-day familiarization visit to TotalEnergies’ offshore fields of Ofon and Egina, where he commended the company for being a shining example of what the government expects from International Oil Companies (IOCs)
The Minister called on stakeholders to collaborate more with the government to improve the sector, emphasizing the need for a win-win approach. He acknowledged the challenges faced by IOCs and proposed a meeting to address these issues and find mutually beneficial solutions.
TotalEnergies’ Managing Director, Matthieu Bouyer, expressed the company’s readiness to partner with the government to boost production levels through new projects tied to existing fields. These projects are expected to increase production and generate more revenue for the government.
Lokpobiri’s statement comes as Nigeria anticipates $50 billion worth of investments in the oil sector, with the government working to address concerns of foreign and local investors.