The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has disclosed that attracting more investment from International Oil Companies, IOCs, to Nigeria is essential for its economic growth.
He made the disclosure during a courtesy visit by the Global CEO of Schlumberger, Mr. Olivier Le Peuch, and his team, to his office, on Thursday.
In a statement issued on Friday by the SA Media and Communication to the Minister, Nneamaka Okafor, he was quoted as saying, “The return of Schlumberger with a promise of increased investment is a testament to the positive changes and opportunities in Nigeria’s oil and gas sector under President Bola Ahmed Tinubu’s administration
“We are strategically positioned for greater partnerships that guarantee mutual benefit.”
The Minister commended Schlumberger for its longstanding contributions to Nigeria’s energy sector and reiterated the Federal Government’s support for the company’s operations.
He added that, “Schlumberger’s decision to invest more in Nigeria will undoubtedly excite Nigerians, as the oil sector remains the quickest means to resolving our economic challenges. More investment is essential for our economic growth.”
The Minister assured Schlumberger of every necessary support from the Federal Government to facilitate their operations, highlighting the collaborative spirit between Nigeria and one of its most influential oil and gas partners.
Earlier in his brief, Le Peuch echoed the Minister’s optimism, saying, “Schlumberger is excited to reinvest in Nigeria. We recognize the country’s potential and are committed to contributing to its energy landscape as we have done in the past.”
He announced plans to fully resume operation in Nigeria with a plan to expand business activities in the country.
The visit aimed to rekindle the longstanding relationship between Nigeria and Schlumberger, and will significantly shape the nation’s oil and gas sector from its early days.
Investments from IOCs essential for our economic growth – Lokpobiri