Indigenous Oil Companies Have Contributed Immensely In Oil Production: Lokpobiri

 

The Minister for Petroleum Resources (Oil), Heineken Lokpobiri, has disclosed that the Indigenous  Oil  Companies in the country have largely contributed to the  increased Oil production that Nigeria is enjoying currently.

Speaking at the weekend in Abuja when he  received a delegation from Renaissance Africa Energy Holdings, which acquired Petroleum Development Company of Nigeria’s (SPDC) assets, Lokpobiri advised that the   acquisition should translate into increased value, efficiency and national benefit.

He commended the indigenous Oil  company for their steadfastness and advised that it should align with the mission of the ministry for increased Oil production.

He said: "Our oil sector is undoubtedly more productive today, with indigenous companies successfully acquiring assets previously held by International Oil Companies (IOCs) as they divest. 

"This positive shift aligns with the vision of President Bola Ahmed Tinubu, who had directed that all divestment-related issues be resolved promptly.

 "Following your acquisition of Shell Petroleum Development Company of Nigeria’s (SPDC) assets. I convey the expectations of Nigerians, that this acquisition must translate into increased value, efficiency and national benefit.

 

" As I commend you today for your strategic initiative, I also charge you to swiftly align with our mission to increase production. 

"This will ensure mutual profitability for both the company and the country. I also assure you of  our full  support and once again.

 

"I commend President Tinubu’s visionary leadership that has made this transformation possible." He stated.

Speaking earlier, the leader of the  delegation Led by the MD/CEO; Dr. Tony Attah, thanked the Minister for his reception and promised to do everything possible to make sure that there is increase in oil production.