Shell says industry reforms critical to driving investment, higher oil output

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The Executive Vice President and Country Chair, Shell Nigeria, Elohor Aiboni, says reforms in Nigeria’s oil and gas industry is critical to attracting investments, growing reserves and increasing crude oil output.

Aiboni said this in a statement on Wednesday in Yenagoa, by Mrs Gladys Afam-Anadu, Communications Manager, Shell Nigeria.

She said this in a goodwill message at the 44th Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos.

She 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.

She acknowledged the fiscal and regulatory incentives introduced by the federal government, describing them as positive steps towards unlocking Nigeria’s vast hydrocarbon resources.

According to her, 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.”

The executive vice president and country chair 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.

She commended the NAPE President, Olajumoke Ajayi, and her leadership team for providing a platform for industry stakeholders to address critical issues affecting reserves growth and sustainable investments.

Aiboni also commended the NUPRC for its commitment to increasing Nigeria’s hydrocarbon production and reserves.

She said the commission’s collaboration with industry operators was helping to create an enabling environment for investment and growth.

Earlier, NAPE President Ajayi acknowledged Aiboni’s achievements as Managing Director of Shell Nigeria Exploration and Production Company (SNEPCo) and wished her further success in her current position.

The News Agency of Nigeria (NAN) reports that 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.