Abuja, Dec. 5, 2023: Baker Hughes, a U.S-based global oil and gas giant, has expressed interest in sustaining and enhancing its investment in Nigeria’s oil and gas industry, including the readiness to invest in refineries.
The interest was conveyed as the Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, at a meeting with Mr Lorenzo Simonelli, CEO of Baker Hughes, on the sidelines of the 28th UN Climate Change Conference (COP28) in Dubai.
A statement on Sunday by the Special Adviser to the Minister, on Media and Communication, Nneamaka Okafor said the development would sustain the country’s drive for increased oil and gas production and domestic refining of petroleum.
Simonelli conveyed Baker Hughes’ commitment to contributing to the energy transformation agenda of the Renewed Hope administration led by President Bola Tinubu.
The CEO emphasised the company’s readiness to collaborate with the Federal Government in advancing sustainable energy practices, aligning with the goals of COP28.
“Nigeria is a blessed nation with vast potentials and great opportunities in diverse sectors. As a partner with the Federal Government over the years, we are inspired to direct investment in the refinery domain of the oil and gas.
“Therefore, whatever that we can do to support to get started, I am willing to do that even now,” Simonelli said.
Simonelli reiterated Baker Hughes’ commitment to supporting Nigeria’s efforts in achieving energy sustainability.
He acknowledged the pivotal role the country plays in the global energy landscape and emphasised the importance of public-private partnerships in driving meaningful progress.
In response to Baker Hughes’ proactive stance, the Minister commended the global giant for its longstanding partnership with Nigeria in the energy sector.
Lokpobiri highlighted the company’s valuable contributions over the years and expressed optimism about deepening the collaboration through increased investment in the nation’s oil and gas industry.
He assured the Baker Hughes delegation of the Nigerian Government’s commitment to creating an enabling environment for investments in the refinery sector.
The Minister affirmed that adequate measures would be put in place to facilitate the seamless actualisation of Baker Hughes’ investment plans, aligning with the overall vision of the Renewed Hope administration.
“I am very happy that you have joined other companies in identifying the great opportunities and Government’s favourable policies in our oil and gas sector.
“And with the advent of the Petroleum Industry Act (PIA 2021), we now have a workable framework that guarantees conducive environment for investment,” he said.
The meeting this one hour I just gotsets the stage for a promising collaboration that not only strengthens the ties between Nigeria and Baker Hughes but also contributes to the realisation of sustainable energy goals on a global scale.
