Shell says recent reforms in Nigeria’s oil and gas industry is critical to attracting fresh investments, growing reserves and increasing crude oil output.
Elohor Aiboni, Executive Vice President and Country Chair, Shell Nigeria, said the reforms had improved the competitiveness of the deepwater sector, strengthened investor confidence and positioned Nigeria as an attractive destination for long-term energy investments.
Aiboni stated this while delivering a goodwill message at the 44th Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos.
This was contained in a statement issued on Wednesday by Mrs Gladys Afam-Anadu, Communications Manager, Shell Nigeria.
Aiboni was quoted as acknowledging the fiscal and regulatory incentives introduced by the government, describing them as positive steps towards unlocking Nigeria’s vast hydrocarbon resources.
“We look forward to deepening our partnership with NAPE, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), government and industry stakeholders.
“This will enable us to unlock more barrels, grow reserves, attract investment and deliver greater value for Nigeria,” she said.
Aiboni described the conference theme, “Unlocking More Barrels: Driving Reserves Growth through Exploration, Local Capabilities and Adaptive Technology,” as timely.
She said the theme reflected the industry’s priorities of strengthening energy security, attracting investments and maximising Nigeria’s resource potential.
According to the statement, the Shell executive commended NAPE President, Olajumoke Cecelia Ajayi, and her leadership team for providing a platform for industry stakeholders to address critical issues affecting reserves growth and sustainable investments.
She also praised the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its commitment to increasing Nigeria’s hydrocarbon production and reserves.
Aiboni said the commission’s collaboration with industry operators was helping to create an enabling environment for investment and growth.
Earlier, Ajayi had acknowledged Aiboni’s achievements as Managing Director of Shell Nigeria Exploration and Production Company (SNEPCo), wishing her further successes in her current position.
The five-day conference attracted geoscientists and other petroleum industry professionals from Nigeria and abroad.
Shell, a principal sponsor of the conference, also mounted an exhibition showcasing its operations in Nigeria.
Aiboni led dignitaries, including the Special Adviser to the President on Energy, Olu Verheijen, on a tour of the company’s exhibition stand.