The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri has disclosed the plan of the Federal Government to forge closer relationships with the various International Oil Companies (IOCs), operating in the country for increased crude oil production.
Recall that the federal government set a target to increase crude oil production to at least two million barrels per day (bpd) by December 2023 to boost the nation’s revenue.
Senator Lokpobiri noted that the government was resolute in its commitment to the implementation of policies aimed at achieving a thriving oil sector that is beneficial to all stakeholders.
The Oil Minister who disclosed this via his X account on Monday said, the discussions were held during his meeting with the energy stakeholders.
Lokpobiri said, he conveyed President Tinubu’s anticipation for dialogues centered on productivity enhancement especially as the Petroleum Industry Act (PIA) has catalyzed a transformative shift in the sector.
He stated further that a confidential exchange with Total Energies solidified their commitment to drill, and he assured them of the government’s readiness to fast-track all processes.
His tweet read thus:
“In line with our objective of ramping up crude production, I have engaged with key industry players and a critical point emerged — the collaborative push towards enhanced crude production and I have actively engaged stakeholders to bolster our efforts.
“During these discussions, I conveyed President Tinubu’s anticipation for dialogues centered on productivity enhancement especially as the Petroleum Industry Act (PIA) has catalyzed a transformative shift in our sector, aligning interests across the board.
“A confidential exchange with Total Energies solidified their commitment to drill, and I assured them of our readiness to fast-track all processes.
“Our commitment is resolute, aiming for swift implementation and aligning efforts with national goals. As we traverse this collaborative journey, the shared vision is clear – a thriving oil sector benefiting all stakeholders.
“Looking ahead into 2024, our focus extends to forging partnerships with various International Oil Companies (IOCs), aligning with our vision for increased crude production”, the tweet read.
