December 08, (THEWILL) — The Chairman/Managing Director of Chevron Nigeria/Mid-Africa business unit, Mr Jim Swartz, has disclosed that Chevron recorded zero incidents of sabotage in the last one year.
Swartz made this disclosure when he visited the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) corporate headquarters in Abuja.
His words, “Chevron has not recorded any oil theft or attacks on our pipelines this year. This is the longest we’ve gone without oil theft.”
Chevron is a member of the Oil Producers Trade Section (OPTS), a subgroup of the Lagos Chamber of Commerce and Industry.
The OPTS is a private industry group dedicated to the exploration, development, and production of Nigeria’s oil and gas resources in a sustainable and beneficial manner for the people.
It represents the interests of approximately 31 oil and gas companies that operate approximately 85 per cent of Nigeria’s oil.
Chevron’s success story may not be unconnected with the progress recorded by Tantita Security Services Nigeria Limited (TSSNL), a private pipeline security surveillance firm.
The proactive approach of TSSNL, using technology, local intelligence, has enhanced monitoring and control of activities in the region and contributed to an increase in the nation’s oil production output since 2022.
Further investigation showed that Nigerian National Petroleum Limited (NNPCL) and International Oil Companies (IOCs) have ramped up production to 1.8 million barrels per day, unlike in the past when production was trapped at 600,000 barrels per day.
Also, unhindered production plays a vital role.
The government is setting a target of 2.06 million barrels per day, as unveiled in the Medium-Term Expenditure Framework (MTEF), as given to reporters by the Minister of Budget and National Planning, Atiku Bagudu.
In his remarks, the Chief Executive Officer of NUPRC, Engr. Gbenga Komolafe, lauded Chevron’s testimony on recording zero incidents pertaining to oil theft.
TSSNL has played a crucial role in ensuring the protection of critical infrastructure vital to the nation’s prosperity.
Its laudable exploits have ensured an increase in production and promoted the nation’s crude oil earnings.
The firm has also created jobs for youths of the Niger Delta, thereby addressing one of the major triggers of youth restiveness in the region.
The oil-producing companies have also boosted operations of the Nigerian Content and Management Development Board (NCDMB) by adhering to the local content implementation policy of the Federal Government.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
