Shell links oil reforms to higher production, investment
Shell has identified recent reforms in Nigeria’s oil and gas industry as critical to attracting investments, expanding reserves and increasing crude oil production.
The company said improved fiscal and regulatory conditions had enhanced the competitiveness of Nigeria’s deepwater sector, strengthened investor confidence and made the country more attractive to long-term energy investors.
*Participants at the 44th Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos
Nathan Tamarapreye, Yenagoa
Shell has identified recent reforms in Nigeria’s oil and gas industry as critical to attracting investments, expanding reserves and increasing crude oil production.
The company said improved fiscal and regulatory conditions had enhanced the competitiveness of Nigeria’s deepwater sector, strengthened investor confidence and made the country more attractive to long-term energy investors.
Executive Vice-President and Country Chair of Shell Nigeria, Elohor Aiboni, stated this while delivering a goodwill message at the 44th Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos.
Her remarks were contained in a statement issued on Wednesday by Shell Nigeria’s Communications Manager, Gladys Afam-Anadu.
Aiboni welcomed the fiscal and regulatory incentives introduced by the Federal Government, describing them as important steps towards unlocking the country’s vast hydrocarbon resources.
She called for stronger collaboration between Shell, NAPE, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the government and other industry stakeholders to accelerate investment and production growth.
“We look forward to deepening our partnership with NAPE, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), government and industry stakeholders.
“This will enable us to unlock more barrels, grow reserves, attract investment and deliver greater value for Nigeria,” she said.
Aiboni described the conference theme, “Unlocking More Barrels: Driving Reserves Growth through Exploration, Local Capabilities and Adaptive Technology”, as timely, noting that it reflected the industry’s priorities of strengthening energy security, attracting investment and maximising Nigeria’s petroleum resources.
She also commended NAPE President, Olajumoke Cecelia Ajayi, and her leadership team for providing a platform for industry stakeholders to examine challenges and opportunities in exploration, reserves growth and sustainable investment.
The Shell executive further praised the NUPRC for its efforts to increase Nigeria’s hydrocarbon reserves and production, noting that its engagement with industry operators was helping to create a more favourable investment environment.
Earlier, Ajayi acknowledged Aiboni’s contributions as Managing Director of Shell Nigeria Exploration and Production Company (SNEPCo) and wished her success in her current role.
The five-day conference brought together geoscientists and petroleum industry professionals from Nigeria and other countries.
Shell, one of the event’s principal sponsors, also showcased its operations in Nigeria through an exhibition stand. Aiboni led dignitaries, including the President’s Special Adviser on Energy, Olu Verheijen, on a tour of the company’s exhibition.
