Esso Exploration and Production Nigeria Deepwater Limited (Esso E&P), an affiliate of ExxonMobil Corporation, has reiterated its commitment to bolstering Nigeria’s energy security through strategic collaborations, regulatory clarity, and sustainable capacity development. The announcement was made at the 2025 Practical Nigerian Content (PNC) Forum held in Yenagoa, a key annual gathering for stakeholders in Nigeria’s oil and gas industry.
During a panel on ‘Streamlining Project Delivery for Improved Efficiency,’ Executive Director and Production Manager for ExxonMobil affiliates in Nigeria, Hazizi Hassan, emphasized the need for alignment between policy, investment, and project execution. He noted that such synergy is crucial to enhance operational efficiency and boost Nigeria’s competitiveness in the global oil market.
Hassan highlighted Nigeria’s ambitious targets to increase crude oil production to 2 million barrels per day by 2027 and 3 million barrels per day by 2030, stressing that these goals are achievable with reduced complexity and a predictable investment climate. While acknowledging the positive impact of the Petroleum Industry Act (PIA), he expressed concern that recent amendments under the Nigeria Tax Act 2025 could undermine key incentives, creating uncertainty for long-term projects.
On local content implementation, Hassan called for more effective execution of Presidential directives to streamline contracting processes and reduce cost-inflating middlemen. “True local content is not about short-term compliance; it’s about building sustainable capacity that strengthens Nigerian companies for the long haul,” he said, advocating for partnerships that attract investment and maintain global competitiveness.
He also highlighted that Nigeria’s cost of doing business remains over 40% higher than peer countries due to overlapping fees and agency roles, which hampers deepwater development. Hassan urged stronger collaboration between regulators and operators, emphasizing that harmonized policy, investment, and execution are essential for delivering not only increased production but also long-term prosperity for Nigeria’s energy sector.
source: The Guardian