By ebosele@hotmail.com –
Chevron Nigeria Limited (CNL) has called for stronger regulatory certainty in Nigeria’s oil and gas industry to unlock investment, drive innovation and create more growth opportunities across the sector.
Chairman and Managing Director of Chevron companies in Nigeria and the Mid Africa Region, Jim Swartz, made the call while speaking at the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit (PEALS) in Abuja.
Swartz, who was represented by Segun Kuteyi, Director of Operations and Chief Operating Officer, Chevron Nigeria and Mid Africa Region, said Nigeria remained one of the world’s most resource-rich energy nations, with substantial oil reserves, abundant natural gas, a strategic location and a skilled workforce.
He, however, stressed that the country’s natural resources alone were not sufficient to guarantee sustainable growth, noting that the operating environment for investors, businesses and workers remained critical.
According to him, “A predictable, transparent, and efficient regulatory framework builds confidence; and confidence attracts investment, drives innovation, creates jobs, and supports economic growth.”
Swartz said regulatory certainty could serve as a catalyst for fresh investor commitments, adding that reforms in the Nigerian oil and gas industry had continued to create opportunities for Chevron following the enactment of the Petroleum Industry Act (PIA) 2021.
He identified exploration and new discoveries, infill drilling and brownfield optimisation, as well as monetisation and integrated developments, as key drivers of the company’s growth strategy.
Highlighting Chevron’s recent activities in Nigeria, Swartz listed the renewal and conversion of its Joint Venture and deepwater leases, continued investments in exploration, asset and gas development and monetisation, as well as Chevron’s acquisition of deepwater block Petroleum Prospecting Licence (PPL) 2010.
He also cited Chevron’s equity investments in recent developments involving Shell’s Bonga Southwest/Aparo (BSWAP) project and ExxonMobil’s Owowo/Usan assets, alongside the company’s sustained social investments and community partnerships spanning more than six decades.
The Chevron executive also emphasised the need to place safety, collaboration and the human dimension at the centre of efforts to strengthen the industry.
He said the sector’s challenges could be addressed through greater regulatory certainty, improved transparency and accountability, increased investment across the value chain and stronger collaboration among stakeholders.
Other priorities, he added, included supporting innovation and digital transformation and developing a capable workforce equipped with future-ready skills.
“At Chevron, we believe people are our greatest asset. No regulatory framework can fully succeed without a capable, motivated, and protected workforce,” Swartz said.
He described platforms such as PEALS as important because they bring government, labour and industry together to align on shared objectives, promote dialogue and deepen mutual understanding.
