Esso Exploration and Production Nigeria Deepwater Limited (Esso E&P), an affiliate of ExxonMobil Corporation, has reiterated its commitment to strengthening Nigeria’s energy sector through strategic collaboration, regulatory clarity, and sustainable capacity development.
The reaffirmation came during the 2025 Practical Nigerian Content (PNC) Forum, an annual oil and gas industry conference held in Yenagoa.
Speaking during a panel session on ‘Streamlining Project Delivery for Improved Efficiency’, Executive Director and Production Manager for ExxonMobil affiliates in Nigeria, Hazizi Hassan, emphasised the need for greater alignment across policy, investment and execution to unlock efficiency and strengthen competitiveness across the industry.
“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,” Hassan noted.
He acknowledged the positive impact of the Petroleum Industry Act (PIA), stating that while the law is not perfect, it has addressed longstanding structural challenges and improved stability for investors. However, he cautioned that recent changes introduced under the Nigeria Tax Act 2025 have rolled back key incentives, creating uncertainty for long-term planning and project execution.
On the Presidential Directives on Local Content, Hassan stressed the importance of faithful and timely implementation, particularly in streamlining contracting processes to reduce bottlenecks. He called for the elimination of middlemen who inflate costs without adding value and advocated a lifecycle-based 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 added.
Hassan further highlighted that Nigeria’s cost of doing business remains more than 40 per cent higher than in peer countries due to duplicated fees and overlapping agency roles, a situation he said continues to render deepwater development uncompetitive. He urged stronger collaboration between regulators and operators to address these persistent structural challenges.
“This is a defining moment for Nigeria’s energy sector. We must harmonize policy, investment, and execution so that our industry delivers not just increased production, but sustainable prosperity for generations to come,” Hassan added.
