Chevron calls for right policies to harness oil, gas opportunities

Chairman and Managing Director of Chevron Nigeria and Mid-Africa Business Unit, Jim Swartz, says the massive opportunities in the oil and gas industry can only be harnessed by engendering economic development with the appropriate government legislation, policies, and regulations.

Speaking at a panel session during the 2024 edition of the Practical Nigeria Content Forum organised by the Nigerian Content Development and Monitoring Board in Yenagoa, Bayelsa State, the Chevron boss maintained that the company is committed to the business success of providing affordable, reliable services to its host communities.

He added that its ever-cleaner energy is directly tied to the progress and prosperity of the people it works with and the communities where it operates.

He hinted that local content development is critical for the growth and development of the nation as it progresses in its quest to acquire oil and gas technology and build indigenous capacity in the oil and gas industry following Chevron’s 60 years of significant investments in Nigeria.

Swartz noted that as an industry that thrives on partnerships with key stakeholders, the Nigerian oil and gas industry is expected to continue to play an active role in prioritising Nigerian content development and building local capacity in the industry.

“Our strategy is to leverage our strengths to safely deliver lower-carbon energy to a growing world. Our primary objective is to deliver higher returns, lower carbon, and superior stakeholder value in any business environment,” he stated.

“Chevron’s Nigerian Content policy is driven by the vision to be recognised as the petroleum company that works best to foster competence and competitiveness among Nigerian Indigenous contractors and suppliers by adopting the participatory-partnership model,”

“At Chevron, we demonstrate our commitment to the socio-economic development of Nigeria by building mutually beneficial partnerships and supporting the policies of the government on Nigerian Content Development. In addition to skills acquisition training for Nigerians, Chevron provides contract and procurement opportunities, support for asset acquisition, and technical support, and facilitates collaboration on research and development for local community contractors.

“For the last 10 years, CNL has spent an estimated annual average of $1bn on Nigerian suppliers and service providers. We do all this, not because we are compelled to, but because it is the right thing to do, ” he said.