Mkpoikana Udoma
Port Harcourt — Oil major, ExxonMobil, has expressed renewed confidence to sustain and expand its investments in Nigeria, citing the federal government’s ongoing policy reforms and stable regulatory environment as key enablers for growth in the energy sector.
Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, disclosed this following his visit to ExxonMobil’s Erha Floating Production, Storage and Offloading, FPSO, facility, where he received operational updates on the company’s Owowo Field and other contiguous projects.
“ExxonMobil conveyed confidence to continue investing in Nigeria, which is a direct reflection of our sustained policy reforms and strategic efforts to drive growth and sustainability across the energy value chain,” the Minister said.
Lokpobiri explained that his engagement with operators is focused on ensuring policy alignment with field realities and encouraging companies to reinvest in existing assets.
“We are proactively ensuring that our upstream successes align with midstream and downstream opportunities to unlock the full energy value chain,” he said.
He added that the Petroleum Industry Act, PIA, and other recent reforms have created a transparent and investor-friendly environment that continues to attract global players back to Nigeria’s oil sector.
“These reforms have restored investor confidence and made Nigeria a preferred destination for energy investment,” he noted.
ExxonMobil’s commitment is a major boost for Nigeria’s production stability and policy credibility, especially as the government intensifies efforts to ramp up crude oil output and attract capital inflows into the sector.
