Abuja, Oct. 21, 2024 – Osagie Okunbor, the Managing Director of Shell Petroleum Development Company Limited (SPDC) and Chairman of Shell Companies in Nigeria, says Nigerian oil and gas industry has bright prospects for the future.
He said this during a panel session on “Fuelling Growth: The Future of Oil and Gas,” at the just concluded Nigeria Economic Summit in Abuja.
Okunbor, however, expressed concerns surrounding the industry, but said the industry is far from declining.
“With the enactment of the Petroleum Industry Act (PIA) and other supporting regulations, the industry is in a much better place,” he said.
He also said the recent presidential directives have introduced much-needed coherence to the sector.
Okunbor highlighted Shell’s commitment to its operations in Nigeria, primarily through SPDC and Shell Nigeria Exploration and Production Company (SNEPCo).
“Through these companies, we collaborate with partners on knowledge sharing, resource pooling and risk mitigation, leading to more efficient and sustainable operations,” he said.
Okubor stressed the importance of Shell’s technical expertise and resources in supporting Nigerian operations to contribute to technological advancement and improved efficiencies.
He also underscored Shell’s dedication to local content development which he said had has helped to boost economic growth and create job opportunities for Nigerians.
“We actively engage with local communities to address their needs and build sustainable relationships, demonstrating our commitment to social responsibility,” he said.
Okunbor promised that Shell would continue to power progress in Nigeria through sustained collaboration for the socio-economic development of the country. (GBN)
