Mkpoikana Udoma
Port Harcourt — Chevron Nigeria Limited has declared its intention to participate in the 2025 oil and gas licensing round, signalling renewed investment confidence in Nigeria’s upstream sector and reaffirming the country’s attractiveness to global operators.
Chairman and Managing Director of Chevron Nigeria/Mid-Africa Business Unit, Jim Swartz, announced the company’s position during a visit to the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, headquarters in Abuja recently.
“We will participate in the next licensing round. Our intention is to continue to grow in Nigeria,” he said.
Swartz lauded the Commission Chief Executive, Engr. Gbenga Komolafe, for providing what he described as a stable, transparent and business-friendly regulatory environment.
“The NUPRC listens. The NUPRC supports business. As a regulator, the NUPRC is transparent,” he stated, adding that the enforcement of the Petroleum Industry Act and the willing buyer-willing seller regime had strengthened investor confidence.
He disclosed that Chevron had recorded “zero incidents of sabotage in the last one year, the longest we’ve gone without oil theft,” noting that the improved security was critical for sustaining production and planning new investments.
The Chevron boss also revealed that TotalEnergies Nigeria had signed a farm-out agreement with Chevron for a 40% stake in offshore licences PPL 2000 and PPL 2001 and urged the Commission to fast-track approvals.
“We are looking to the NUPRC for swift approval as we seek to develop the assets quickly,” he said.
Responding, NUPRC’s Chief Executive, Engr. Komolafe, described Chevron’s readiness to join the 2025 licensing round as “clear evidence that Nigeria remains a prime investment destination.”
He said the round would be fully digital and “even more transparent than that of 2024,” with 50 fields on offer.
Komolafe also welcomed Chevron’s report of zero oil theft incidents, attributing it to interventions by President Bola Tinubu’s administration and enhanced security operations.
“This is the kind of testimony we want from operators. It shows the reforms are working,” he said.
