The meeting held at the State House was attended by the Chairman of Chevron International Exploration and Production (CIEP), Clay Neff, the immediate past Chairman and CEO of Chevron Nigeria, Rick Kennedy, and his successor, Jim Swartz.
Swartz will take over from Kennedy as President and CEO of Chevron Nigeria/Mid-Africa Business Unit effective April 1, 2024.
President Tinubu welcomed Chevron’s interest in shallow and deep water operations in Nigeria. He notably highlighted the ongoing $1.4 billion drilling project in collaboration with the Nigerian National Petroleum Company Limited (NNPCL).
The President also announced plans to bring necessary interventions to the oil and gas industry, in line with the provisions of the Petroleum Industry Act (PIA), to enable the smooth functioning of the industry.
It should be recalled that the president, during his meeting last year with the group president and managing director of Total Energies, Patrick Pouyanne, declared that his administration was determined to remove all obstacles to investment in the country .
The president’s meeting with oil giants aims to strengthen the country’s position as an oil-producing country, with the aim of increasing production and generating higher revenue for the country.
Chevron has operated for over 60 years in Nigeria and holds an important place in the country’s oil sector as one of the country’s leading natural gas suppliers and a key player in West Africa’s energy infrastructure .
Clay Neff, President of Chevron International Exploration and Production (CIEP), said Chevron’s interest in Nigeria remained as it hoped to strengthen its partnership with the country to further unlock oil and gas potential, drawing on the country’s “tremendous human capacity”.
This partnership between the Nigerian government and Chevron and the focus on the oil and gas industry illustrates the importance of the sector to the country’s economic development. It is also an opportunity for Nigeria to strengthen its role as an energy producer and attract more investment in the sector.
These developments underscore Chevron’s continued commitment to Nigeria and the country’s potential as a key player in the energy scene. The partnership between the two parties, supported by necessary investments and human resource development, paves the way for sustainable economic growth and a better future for Nigeria.