By Udeme Akpan, Energy Editor

THE Federal government, yesterday, promised to resolve issues in divestment-related deals, involving ExxonMobil, Eni and others in order to stimulate sustainable growth in Nigeria’s oil and gas industry.

Both ExxonMobil and Eni had indicated interest to sell some of its onshore oil and gas assets to Seplat Energies and Oando Plc respectively.

But the government has not been fast in granting approvals, thus delaying the development and production, expected to boost Nigeria’s dwindling production capacity.

However, in an interview with Bloomberg, Wednesday, the Minister of State, Petroleum Resources (Oil), Senator Heineken Lokpobiri, said: “These things are taken by case-by-case basis, Shell will come, and Chevron will come – as they come, we are dealing with them and we are not going to waste time in dealing with them. They will resolve it, all those problems.

“Most of the International Oil Companies, IoCs, are interested in going into the deep onshore and you know there is also a lot of local capacity now.

“So, in most of the onshore and shallow waters, you see the local companies, which are quite a number. They are over 29 now showing capacity to be able tom mange thos e assets locally.”

Similarly, the Minister of State Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, has reiterated the commitment of the Federal Government to create an enabling operational and fiscal environment for investment.

The minister stated this while on a panel tagged “Energy Talk” at the ongoing ADIPEC 2023 conference and exhibition in Abu Dhabi, United Arab Emirates (UAE).

He said: “This is evident in the actions of Mr. President when he split the Ministry of Petroleum Resources into Oil & Gas respectively. This singular action is a testament to President Tinubu’s resolve to promote gas commercialization in Nigeria for export and domestic utilization.”

The minister, who is the head of the Nigerian delegation to the event, listed several initiatives relating to government’s action to promote and support gas based industrialisation and decarbonisation agenda with the corporation and support of the organized private sector.

Top amongst these initiatives are: Decade of Gas (Upstream, Midstream and Downstream); getting cooking gas to every home and Compressed Natural Gas, CNG for vehicles; gas flare commercialisation programme and gas to petrochemicals.

He said: “Our ministry is working with the organized private sector to roll out over two million CNG conversions kits for free within the next nine months to push the utilization of CNG as main fuel for vehicles nationwide. This initiative is aimed at converting 10 million vehicles from PMS to CNG in the next 36 months.”

Ekpo said key benefits of the initiative include, creating over 100000 jobs for Nigerians, increasing governments savings from reduced subsidy payout for the importation of PMS, reducing carbon emission following the utilization of clean gas to drive internal combustion engines.

The minister informed the audience about specific policy changes targeted at gas pricing regime, non associated gas (NAG) acreage development, and review of the terms of the production sharing contracts (PSC).

“These are all aimed at attracting investments of more than $20 billion into the country for NAG offshore and deep water (DW) acreage development. The ministry is working closely with her respective parastatals to get these reforms across to the upper legislative chamber for approval and subsequently for President endorsements.”