Tinubu pledges to intervene in “oil and gas” to strengthen investments
President Bolas Tinubu has promised her administration preparation has provide necessary continuous interventions In THE oil And gas industry In double with THE provisions of THE Oil Industry Act (PIA).
He do THE statement When he received A delegation Since THE Chevron Company, directed by Mr. Clay Neff, President of Chevron International Exploration And Production, on Tuesday has THE Presidential Villa In Abuja.
THE president said Nigeria would be to strenghten It is long standing Partnership with THE multinational business In double with THE evolution dynamic In THE oil And gas industry.
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He welcomed Chevrons commitment has build on It is investments In shallow And deep water operations In Nigeria, noting THE the company in progress $1.4 billion drilling project with THE Nigerian National Oil Business Limit (NNPCL).
He Also felicity Chevron For It is dedication has reduce It is carbon footprint In THE country.
THE President declared, "You must see THE PIA as A legacy law. We ensure You of fast interventions And adjustments on any of them issue You can to have In your operations In OUR country.
"Nigeria East proud of THE 60 years Partnership with Chevron, And We believe This Partnership will be reinforced has add mutually beneficial value For THE advantage of your shareholders as GOOD as THE life standards And economic opportunities of OUR population. »
In her Remarks, M Neff promised that THE business would be continue has function In complete adhesion has THE The highest standards, even as he meets It is investment commitments In Nigeria.
He Underlines THE the company contributions has domestic gas provide, noting THE delivery of 25% of gas through A joint adventure with NNPC Limited.
He Also said Chevron was scaling up It is investments In THE country with It is recent efforts In A new phase of development has include: "THE conversion, below THE Oil Industry Act, of all THE NNPCL/Chevron Nigeria Limit Joint Adventure (JV) Oil Mining Leases (OML) And Agbami OML 127 has Oil Mining Leases And Oil Prospecting Licenses (PPL); entrance In BPO 215 block has booster deep water development opportunities; signature of 20 years renewal of three deep water leases; beginning of seismic data acquisition In several deep water leases; beginning of life extension work on THE Agbami project, And, In Partnership with NNPCL, to secure of $1.4 billion funding has funds THE NNPCL/CNL Joint venture filling drilling program between 2022 has 2026, which understand THE drilling of 37 well In THE shallow off the coast And down Escravos area And partner facilities".
M Neff further informed President Tinubu that Chevrons average annual tax And royalties fund transfers on THE pass three years had reached $3.4 billion.
"THE bold not You to have taken Since You assumed desk are enough impressive. We are encouraged by OUR Partnership of on 60 years, And We look Before, God willing, has continue that Partnership For a lot decades has come.
"We are Also look has other opportunities while Operating with THE best environmental practices. We will continue has to grow OUR traditional oil And gas business because We know THE countries Or We function are In need of those some products, And THE world needs those products. »
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President Bolas Tinubu has promised her administration preparation has provide necessary continuous interventions In THE oil And gas industry In double with THE provisions of THE Oil Industry Act (PIA).
He do THE statement When he received A delegation Since THE Chevron Company, directed by Mr. Clay Neff, President of Chevron International Exploration And Production, on Tuesday has THE Presidential Villa In Abuja.
THE president said Nigeria would be to strenghten It is long standing Partnership with THE multinational business In double with THE evolution dynamic In THE oil And gas industry.
Related Posts
He welcomed Chevrons commitment has build on It is investments In shallow And deep water operations In Nigeria, noting THE the company in progress $1.4 billion drilling project with THE Nigerian National Oil Business Limit (NNPCL).
He Also felicity Chevron For It is dedication has reduce It is carbon footprint In THE country.
THE President declared, "You must see THE PIA as A legacy law. We ensure You of fast interventions And adjustments on any of them issue You can to have In your operations In OUR country.
"Nigeria East proud of THE 60 years Partnership with Chevron, And We believe This Partnership will be reinforced has add mutually beneficial value For THE advantage of your shareholders as GOOD as THE life standards And economic opportunities of OUR population. »
In her Remarks, M Neff promised that THE business would be continue has function In complete adhesion has THE The highest standards, even as he meets It is investment commitments In Nigeria.
He Underlines THE the company contributions has domestic gas provide, noting THE delivery of 25% of gas through A joint adventure with NNPC Limited.
He Also said Chevron was scaling up It is investments In THE country with It is recent efforts In A new phase of development has include: "THE conversion, below THE Oil Industry Act, of all THE NNPCL/Chevron Nigeria Limit Joint Adventure (JV) Oil Mining Leases (OML) And Agbami OML 127 has Oil Mining Leases And Oil Prospecting Licenses (PPL); entrance In BPO 215 block has booster deep water development opportunities; signature of 20 years renewal of three deep water leases; beginning of seismic data acquisition In several deep water leases; beginning of life extension work on THE Agbami project, And, In Partnership with NNPCL, to secure of $1.4 billion funding has funds THE NNPCL/CNL Joint venture filling drilling program between 2022 has 2026, which understand THE drilling of 37 well In THE shallow off the coast And down Escravos area And partner facilities".
M Neff further informed President Tinubu that Chevrons average annual tax And royalties fund transfers on THE pass three years had reached $3.4 billion.
"THE bold not You to have taken Since You assumed desk are enough impressive. We are encouraged by OUR Partnership of on 60 years, And We look Before, God willing, has continue that Partnership For a lot decades has come.
"We are Also look has other opportunities while Operating with THE best environmental practices. We will continue has to grow OUR traditional oil And gas business because We know THE countries Or We function are In need of those some products, And THE world needs those products. »
READ ALSO FROM Nigerien TRIBUNE
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