Mkpoikana Udoma
Port Harcourt — The Shell Nigeria Exploration and Production Company Limited, SNEPCo, says Nigeria can convert risks and operational complexities in the oil and gas sector into tangible growth opportunities if regulators and operators sustain collaboration anchored on transparency and fiscal stability.
The position was conveyed on behalf of SNEPCo Managing Director, Ronald Adams, at the 10th Sub-Saharan Africa International Petroleum Exhibition and Conference, SAIPEC, recently held in Lagos.
“Nigeria continues to demonstrate that Africa remains investable,” Adams said during a panel session titled ‘IOCs: De-risking Investments in African Oil and Gas Projects’.
Adams was represented by the company’s Finance Director, Tunde Oduwole.
Describing Nigeria as “a test case for African de-risking,” Adams stated: “When there is long-term predictability of the investment climate in terms of competitive and stable fiscal and regulatory frameworks, risks can be actively managed to unlock significant capital for growth and development even in challenging environments.”
Adams noted that the Federal Government’s reform agenda and sustained engagement with regulators, operators and co-venturers have played a critical role in restoring investor confidence.
He said the improved climate contributed to SNEPCo taking Final Investment Decisions, FIDs, on Bonga North in 2024 and HI the following year.
“This is a good example for Africa,” he said, adding that regulatory alignment and constructive dialogue are essential to accelerating capital inflows into deep-water projects.
Citing the long-standing performance of the Bonga oil field, Adams attributed its more than two decades of sustained output to disciplined operational philosophy.
“Bonga’s sustained performance for over two decades was a direct outcome of SNEPCo’s commitment to safety leadership, disciplined maintenance philosophy, operational excellence, and continuous investments in human capital,” he said.
He added that consistent operational performance strengthens investor confidence and positions Nigeria’s deep-water sector as globally competitive.
“Nigeria shows that Africa’s oil and gas projects can compete globally when technical excellence meets regulatory alignment and local content capability,” Adams said.
“The Nigerian experience provides a blueprint for unlocking capital, accelerating project timelines, and sustaining value creation across Africa’s evolving energy landscape.”
The remarks reinforce the argument that predictable fiscal frameworks, disciplined governance and strong operator-regulator collaboration remain central to unlocking Nigeria’s vast offshore potential and attracting the next wave of investment into Africa’s largest oil producer.
At the conference, Oduwole received the “Outstanding Thought Leadership in Shaping Africa’s Energy Future” award on behalf of Adams from Wole Ogunsanya, Chairman of the Petroleum Technology Association of Nigeria, PETAN.
