The Minister of State for Petroleum Resources (oil), Heineken Lokpobiri, said that Nigeria is strengthening its position as a main global investment destination, welcoming international investors and partners who return to their oil industry and gas with competitive incentives and a renewed commitment to collaboration.
Lokpobiri made the comments in Abuja while receiving a Vaalco Energy delegation, an American oil and gas exploration and gas development company, which expressed interest in re -entering Nigeria through the acquisition of Svenska’s PSC interest in the lease of oil mining (OML) 145.
Lokpobiri reformulated the interest of President Bola Tinubu in providing an environment conducive to the companies that left Nigeria in the past saying that the federal government is ready to offer comparable incentives to the best available worldwide.
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He said: “The government of President Bola Ahmed Tinubu is particularly interested in creating a better environment for the companies that were once here but that left for several reasons to return. We are prepared to offer comparable incentives to the best available worldwide.”
Praising Vaalco’s renewed interest, Lokpobiri added: “It is gratifying for us as a nation when those who have worked here become ambassadors, speaking of the friendly and conducive that Nigeria is for business. We are happy to welcome him.”
The managing director of Vaalco Energy, Pieter van der Groen, said the company sees Nigeria as a key investment center and returned to invest in the country and develop the assets acquired.
“We are here to seek regulatory guidance to acquire Svenska’s interest in OML 145, but most importantly, to return to Nigeria and invest in a stronger way. As a company of the New York Stock Exchange, we have access to funds to develop the assets we acquire.
However, Lokpobiri said that Nigeria’s policies now provide clarity, fiscal stability and friendly frameworks with investors that foster long -term associations.
“Its renewed presence will help us increase production and achieve our national energy goals. Together, we can build a future shared growth and prosperity,” said the minister.
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