Mkpoikana Udoma
Port Harcourt — Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has reaffirmed the Federal Government’s commitment to re-attracting Engineering, Procurement, and Construction, EPC, contractors and unlocking stalled deepwater oil projects as part of a renewed drive toward achieving the nation’s 2030 production and investment targets.
Speaking at the Cross Industry Group, CIG, Meeting held in Biarritz, France, Lokpobiri said the Nigerian government remains committed to consolidating its collaboration with global industry players to enhance investment inflows, boost competitiveness, and strengthen confidence in Nigeria’s energy sector.
“Every opportunity is an avenue for us to consolidate on our efforts and collaboration with industry players, x-raying how far we have come, taking critical measures towards re-attracting EPCs, unlocking deepwater projects that will contribute to our 2030 production and investment goals, thereby strengthening the competitiveness of our oil and gas industry,” the Minister stated.
He noted that the government has consistently introduced reforms, fiscal incentives, and transparent regulatory practices designed to improve the operating environment and stimulate new capital commitments from both local and international investors.
“Government has continued to provide an enabling environment through consistent reforms, fiscal incentives, and transparent regulatory practices designed to attract fresh investments and foster stronger partnerships,” Lokpobiri emphasized.
The Minister urged operators and international oil companies to complement these efforts by taking decisive steps toward new project sanctions, deployment of innovative technologies, and alignment with Nigeria’s sustainable production growth agenda.
“Operators must complement these efforts by taking decisive steps, initiating new projects, deploying innovative technologies, and ensuring that their activities align with our shared objective of sustainable production growth,” he added.
Lokpobiri described the Cross Industry Group as a vital platform for aligning strategies between government and industry leaders, noting that the outcomes of such engagements are crucial to shaping the future of Nigeria’s oil and gas sector.
“The CIG has proven to be a vital platform for aligning strategies between government and industry, and I look forward to continued collaboration as we translate our commitments into measurable outcomes for Nigeria’s energy future,” he said.
The Minister’s renewed call for collaboration comes as Nigeria intensifies efforts to ramp up crude production to over 1.8 million barrels per day and attract fresh investments into deepwater exploration, a key segment seen as essential to sustaining long-term national output.
According to him, the renewed push reflects the Tinubu administration’s broader economic reforms aimed at repositioning the energy sector as a magnet for foreign direct investment and a catalyst for industrial growth.
