The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, gave the assurance during an inspection of the NNPC/Chevron Nigeria Limited Joint Venture EGTL facility in Escravos, Delta State.

Lokpobiri’s media aide, Nneamaka Okafor, in a statement, said incentives will ensure Nigeria remains an attractive destination for energy investments.

“Since we assumed office, things have changed. Our obligation as government is to provide an environment that is globally competitive to allow you to expand what you are already doing,” the Minister said.

He stressed that the government’s objective is to increase production and ensure Nigeria remains attractive for capital expenditure distribution in the global oil and gas market.

They also commended the NNPC/CNL JV for its operational excellence and urged other operators to consider farming out idle assets to investors with access to capital, noting that the government is reviewing the activation of the “drill or drop” provision in the Petroleum Industry Act.

During the visit, General Manager of Chevron Nigeria Limited, Segun Kuteyi, expressed optimism about the company’s future in Nigeria and lauded the Minister’s commitment to collaboration.

Chevron’s Chairman/MD, Jim Schwartz, also highlighted the enabling role of the Petroleum Industry Act and government support in attracting and sustaining investment.

“When we think about the future, your support and the PIA in sticking with the path of attracting investment is really good for us. We have a lot of resources we still want to develop here that will enable production growth. After 60 years, we are proud to remain one of the largest supporters in the country,” Schwartz said.

The visit underscores the strong partnership between the Federal Government and Chevron, aimed at unlocking Nigeria’s oil and gas potential, driving sustainable production, and boosting economic growth through collaborative investments.