The federal government has announced that it is looking forward to no less than 4 million barrels per day oil production and 10bcf of gas output by 2030.
Special Adviser to the President on Energy and head of the Energy Office of the Presidency, Mrs. Olu Verheijen, disclosed this in a statement on Thursday.
Verheijen, who is also coordinating the rollout of the reforms in the oil sector said this is possible, especially given the recent offshore oil and gas incentives announced by President Bola Tinubu.
“Since Nigeria’s last deepwater project – the Egina project – was approved in 2013, International Oil Companies operating in Nigeria have committed more than $82 billion in deepwater investments to other countries that they deem more competitive,” she said.
“Over the next few years, they plan to spend another $90 billion to develop deepwater oil and gas projects.
“This is…
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