By Our Reporter
The Chairman , Managing Director Nigeria / Mid Africa, Chevron Nigeria/Mid Africa Business Unit, Jim Swartz has confirmed that the oil company was insulated from any incident relating to sabotage and oil theft on its pipelines this year .
He made this remark during the visit to the headquarters of Nigeria Upstream Midstream, Downstream Petroleum Regulatory Commission in Abuja on Friday.
Mr Jim Swartz said Chevron is also committed to participating in the 2025 petroleum licensing round.
Swartz further said TotalEnergies Nigeria also signed a farm-out agreement with Chevron for a 40 percent stake in the petroleum prospecting licence (PPL) 2000 and PPL 2001 offshore exploration licences in Nigeria.
He said Chevron is committed to the operationalization of the Petroleum Industry Act PIA and it’s enforcement
The managing director commended the NUPRC as a business enabler, commending Gbenga Komolafe, its chief executive officer, for his visionary leadership and for ensuring that the Petroleum Industry Act (PIA) is enforced explicitly.He said Chevron looks ahead to the NUPRC, the regulatory agency for a prompt approval as it seeks to develop the assets quickly.
“Chevron has not recorded any oil theft or attacks on our pipelines this year. This is the longest we’ve gone without oil theft,” he said.
“We will participate in the next licensing round. Our intention is to continue to grow in Nigeria,” Swartz was quoted as saying.
“My assessment is that you have continued to support us. You have shown that Nigeria is a leader in this sector. Chevron specifically appreciates the enforcement of the willing buyer, willing seller provision,” he said.
“The NUPRC listens. The NUPRC supports business. As a regulator, the NUPRC is transparent.”
Responding, Komolafe said Chevron’s decision to participate in the 2025 licensing round was proof that Nigeria remains a key investment destination.
Komolafe also expressed delight over Chevron’s testimony on recording zero incidents pertaining to oil theft.
He attributed the development to initiatives by President Bola Tinubu’s administration and security agencies.
“We are committed to delivering a transparent licensing round which will be better than that of 2024. It will be transparent and digital. Our portal has gone live and we have 50 fields on offer,” he said
“We are committed to delivering a transparent licensing round which will be better than that of 2024. It will be transparent and digital. Our portal has gone live and we have 50 fields on offer,” he said.
Komolafe also expressed delight over Chevron’s testimony on recording zero incidents pertaining to oil theft.
He attributed the development to initiatives by President Bola Tinubu’s administration and security agencies.
