Nigeria’s rig count, an index of measuring upstream activities in the oil and gas industry, rose, Year-on-Year, YoY, by 61.1 per cent to 29 in September 2023, from 18, recorded in the corresponding period of 2019, due to an increase in investment.
He said: “The PIA is positively impacting as it provides institutional governance, efficient administration, and attractive fiscal regimes while providing for host communities, thus creating a peaceful atmosphere for investment and operations. Already, the NUPRC boss disclosed that the Commission is partnering with TGS-Petrodata, a globally renowned organization to provide data, capable of enhancing clarity to investors.
“Due to the specialised nature of the Geophysical Survey Vessel to be used for the acquisition of the 3D seismic and gravity data, the Nigerian Content Development and Monitoring Board, NCDMB, granted no objection to TGS-PD to deploy the facility.Hotelier’s murder: Kwara Poly disowns 2 female students after police parade
While noting that the Energy transition has affected the funding of hydrocarbon projects and programmes globally, he said: “The position of Nigeria is that the peculiarity of nations in energy development should be respected. Energy transition should be just in line with the peculiarity of nations. Nigeria will continue to develop its hydrocarbon resources and use the revenue to build critical infrastructure while transiting at its pace towards cleaner energy.