Buhari regime seeks oil companies’ support to tackle energy poverty
Timipre Sylva, the minister of state for petroleum resources, has called on local and international oil companies to work with the federal government to tackle energy poverty in Nigeria.
Mr Sylva made the call while delivering an address at the commencement of operation of the TotalEnergies’ Okike Oil Field in Port Harcourt, Rivers.
In a statement on Friday, the minister said it was through collaboration with the private sector that Nigeria could meet the growing energy needs of the populace and encouraged other operators, either indigenous or international oil companies, to imitate TotalEnergies in partnering with Nigeria to achieve energy transition and liberation from energy poverty.
He added that the major mandate of the ministry was to increase crude oil production to three million barrels per day (bpd) from its meagre 1.2 million bpd.
Mr Sylva also stated that the 50,000 bpd from TotalEnergies Okike Oil Field would contribute significantly to achieving this mandate and that the 50,000 bpd from the Okike oilfield would further boost Nigeria’s quest to reach the three million bpd Organisation of Petroleum Exporting Countries (OPEC) mark.
“We assure TotalEnergies that the ministry will continue to support your efforts to do more in monetising the Nigerian oil and gas resources for the benefit of Nigerians within the window between now and 2060 net-zero pledge of Nigeria,” he said.
The minister stressed that the signing of the Petroleum Industry Bill into law demonstrated the government’s resolve to promote growth and investments in the oil and gas sector of the economy.
(NAN)
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