KEY POINTS
- Esso calls for faster and clearer regulations to accelerate Nigeria’s oil output ambitions.
- ExxonMobil says technology gains and skilled workers are key to unlocking new deepwater projects.
- The upstream regulator promises transparency and adaptability to boost investor confidence.
Esso Exploration and Production Nigeria Limited has urged the Nigerian government to deliver clearer and quicker regulatory guidance as the country strives to revive oil production, attract international capital, and strengthen the capacity of its workforce.
The affiliate of ExxonMobil said Nigeria’s hopes of lifting daily output to two million barrels within the next two years, and three million by the end of the decade, will require a far more predictable policy environment and stronger coordination between state bodies and investors.
Etabuko Abirhire, Executive Director for Development at EEPNL, told participants at the Nigerian Association of Petroleum Explorationists Conference in Lagos that Nigeria is not short of resources, but rather consistency in policy design and implementation.
He said operational efficiency and human capital are the base upon which Nigeria’s upstream industry must rebuild. According to him, the country’s regulatory authorities should give clarity not only on overarching rules but also on practical steps that determine how projects progress in the field.
“Achieving national production goals will demand deliberate effort, collaboration, and disciplined execution. Every stakeholder has a role to play,” Abirhire said.
Reforms welcomed, but clarity still needed
Abirhire welcomed progress under the Petroleum Industry Act and recent directives from the presidency aimed at restoring trust in Nigeria’s investment climate, especially in deepwater exploration. Yet he warned that delays in interpretation and rollout of reforms could hold up projects that investors are eager to sanction.
He added that ExxonMobil’s integrated efficiency systems have allowed the company to deliver projects more quickly and at less cost. One of its proprietary technologies, the Discovery 6 Supercomputer, has already cut seismic data analysis timelines from months to just weeks, enabling faster decisions on drilling and development.
Officials at the Nigerian Upstream Petroleum Regulatory Commission responded to industry concerns, insisting that the regulator remains focused on transparency and responsiveness to investor feedback. Commission Secretary and Legal Adviser, Olayemi Adeboyejo, described regulation as the “architecture of efficiency” and said policies will continue to evolve to enhance competitiveness.
Esso also highlighted its continued partnership with NNPCL and the Nigerian Content Development and Monitoring Board, arguing that pragmatic local content policies and clearer governance structures will be crucial to restarting large-scale offshore projects.
The company reaffirmed its long-term faith in Nigeria’s energy industry, citing partnership, innovation, and workforce development as the foundations for future growth.
