Kachikwu speaks on Mobil, other oil coys ‘exiting’ Nigeria

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Dr Ibe Kachikwu, the Minister of State for Petroleum Resource says that no International Oil Company (ICO) is planning to exit Nigeria contrary to reports in some section of the media.

Kachikwu made this known while briefing newsmen after facility tour of ExxonMobil Erha Floating Production Storage and Offloading vessels (FPSO) in Lagos on Sunday.

“I have confirmed that it is not true, there are going to be here for a long stay, they will be here over the next 50 years, they are looking for more, they are doing all kinds of things, they just begun the exploration campaign first time in four years because of the new cash call policies we put in place.

“That is not a sign of somebody who is exiting. But different from not exiting is to be aggressive. ExxonMobil needs to be more aggressive in terms of development policies,’’ he said

He added that ExxonMobil needs to be more aggressive with business as Bonga Southwest was almost on FID, Egina just kicked off and Agip is struggling to get Zabzaba online.

“So, I need to see a very robust development,’’ he advised

Mr Richard Laing, ExxonMobil Executive Director, Production commended the minister for making out time to visit the facility and reiterated that the company had no plans to exit Nigeria.

“We are happy with Nigeria, We have our differences, we don’t agree on everything, we are happy and content. We are delighted over the minister’s visit and we are happy that he has come back to his spiritual home.

“As the minister said, the corporation has been here for many years, we intend to stay, we have ambitious growth programmes to build wealth and grow business to make more profit, key into the gas commercialisation project.

“We fully support what the minister said and we look forward to working with him,’’ he said.

Source:

https://dailypost.ng/2019/04/14/kachikwu-speaks-mobil-oil-coys-exiting-nigeria/

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