Nigeria Can Transform Risks in Oil Industry to Opportunities -SNEPCo
The Shell Nigeria Exploration and Production Company (SNEPCo) says Nigeria can transform risks and complexities in the oil and gas industry to opportunities for growth and development.
SNEPCo’s Managing Director, Ronald Adams, made the expression in a statement by the Communications Manager, Mrs Gladys Afam-Anadu on Friday.
According to the statement, Adams spoke at the ongoing 10th Sub-Saharan Africa International Petroleum Exhibition and Conference in Lagos.
Adams said that turning risks into opportunities required operators and regulators to collaborate in a business environment that encouraged transparency and governance discipline.
“Nigeria continues to demonstrate that Africa remains investable, Nigeria is a test case for African de-risking.
“When there is long-term predictability of the investment climate in terms of competitive and stable regulatory frameworks, risks can be actively managed to unlock significant capital for growth,” he said.
He said that Nigerian Government’s vision for the energy sector were demonstrated in reforms and constructive engagements with regulators, operators and co-venturers.
“This has contributed immensely in boosting investor confidence and reducing uncertainties,” he said.
The managing director further said that the improved investment climate in the country had yielded positive results with SNEPCo’s FIDs on Bonga North in 2024.
Adams also said that Bonga’s sustained performance for over two decades was a direct outcome of SNEPCo’s commitment to safety leadership and disciplined maintenance philosophy.
“SNEPCo remains committed to operational excellence and continuous investments in human capital.
“Bonga’s operational performance not only strengthens investor confidence, it helps to attract investments in the deep-water sector in the country,” he said
He said that Nigeria had shown that Africa’s oil and gas projects could compete globally when technical excellence met regulatory alignment and local content capability.
“The Nigerian experience provides a blueprint for unlocking capital, accelerating project timelines, and sustaining value creation across Africa’s evolving energy landscape.” FG, Ericsson Launch ‘Connect NextGen Hackathon’
