Esso Exploration and Production Nigeria Deepwater Limited (Esso E&P), an affiliate of ExxonMobil Corporation, has restated its commitment to advancing Nigeria’s energy sector through strategic collaboration, regulatory clarity, and sustainable capacity development.

The reaffirmation was made at the 2025 Practical Nigerian Content (PNC) Forum in Yenagoa, where industry leaders gathered to deliberate on operational efficiency and the future of local content in the oil and gas sector.

During a panel session on “Streamlining Project Delivery for Improved Efficiency,” Hazizi Hassan, Executive Director and Production Manager for ExxonMobil affiliates in Nigeria, said alignment across policy, investment, and execution is essential to unlock efficiency and strengthen Nigeria’s competitiveness.

Hassan expressed confidence in Nigeria’s production targets.
“Nigeria’s aspiration to grow crude oil production to 2 million barrels per day by 2027 and 3 million barrels per day by 2030 is bold and achievable — but only if we focus on operational efficiency, reduce complexity, and create a predictable investment climate,” he said.

He noted that while the Petroleum Industry Act (PIA) has improved structural stability for investors, recent amendments to the Nigeria Tax Act 2025 have reversed key incentives, introducing uncertainty for long-term investments.

On the Presidential Directives on Local Content, Hassan called for strict and accelerated implementation, especially in simplifying contracting cycles. He emphasised the need to remove middlemen who increase project costs without contributing value, and urged the adoption of a lifecycle-driven approach to capacity development.

“True local content is not about short-term compliance; it’s about building sustainable capacity that strengthens Nigerian companies for the long haul. Partnerships must attract investment and remain globally competitive — this is how we deliver real value to Nigeria,” he stated.

Hassan also pointed out that Nigeria’s cost of doing business remains over 40 per cent higher than peer countries, driven by duplicated fees and overlapping regulatory roles — factors that undermine deepwater investment competitiveness. He called for deeper collaboration between regulators and operators to eliminate bottlenecks.

Concluding his remarks, he said:
“This is a defining moment for Nigeria’s energy sector. We must harmonise policy, investment, and execution so that our industry delivers not just increased production, but sustainable prosperity for generations to come.”