ExxonMobil pledges nearly 40,000bpd in new Nigerian production in short term
In a monumental development for Nigeria’s oil and gas industry, ExxonMobil, a global oil and gas conglomerate, has pledged a substantial increase in production.
Telescope.ng reports that this announcement comes after a crucial meeting between the leadership of ExxonMobil and Nigerian President, Bola Tinubu, held in New York.
During the meeting, President Tinubu emphasised Nigeria’s eagerness to move beyond a passive role in the global investment landscape. He asserted that Nigeria is now prepared more than ever to fully engage and participate in the vast opportunities presented by the energy sector.
Drawing on his extensive background as a professional accountant in the oil and gas industry, President Tinubu expressed confidence in his capacity to make decisive choices and resolve impediments that have hindered substantial capital inflows into Nigeria’s oil and gas sector.
President Tinubu affirmed: “We understand the challenges and are fully committed to overcoming them for the benefit of the Nigerian people. We have the expertise and determination to address these issues pragmatically.”
ExxonMobil’s President of Global Upstream Operations, Liam Mallon, acknowledged President Tinubu’s personal commitment to facilitating substantial investments in Nigeria. Mallon committed to nearly 40,000 barrels per day (bpd) of new production in the first phase of ExxonMobil’s expanded investment in Nigeria.
Mallon also appreciated the collaboration and progress made since their previous meeting, highlighting their efforts to enhance production and expand deep-water operations. He praised President Tinubu’s leadership and expressed gratitude for his proactive approach to fostering a mutually beneficial partnership.
This promising development stands to significantly bolster Nigeria’s oil and gas production and is a testament to the potential of fostering strong partnerships between the Nigerian government and global energy players.
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