Mr. Osagie Okunbor, Country Chair and MD/CEO of SPDC
-Felix Douglas
Contrary to insinuations that the International Oil Companies (IOCs) are leaving Nigeria due to divestment and sale of assets, the Country Chair and Managing Director of Shell Petroleum Development Company of Nigeria (SPDC), Osagie Okunbor, said Nigeria cannot be taken for granted.
Okunbor, in a short remark told participants at Nigerian International Energy Summit (NIES) that the multinational oil companies presence remains and has not changed.
“The country has a set of capable hands in the private sector that have taken over assets. IOCs are investing more in the country but in a different terrain which is the deepwater. The whole divestment essentially provides opportunity for focus analysis to offshore deepwater.”
According to the Shell helmsman, both parties involving indigenous independent operators and IOCs have shaped the industry in Nigeria which has also led to a healthy competition, therefore “the industry is more modified and we can work together.”
There is an effective regulator and it will benefit the country. All the country needs is to grow production.
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