Chevron Nigeria has reaffirmed its long-term commitment to the country’s oil and gas sector, announcing plans to compete in the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) 2025 licensing round.
The company’s Chairman and Managing Director, Jim Swartz, revealed this during a visit to the Commission’s headquarters in Abuja on December 4. Swartz commended NUPRC for creating what he described as a predictable and investor-friendly regulatory environment.
According to a statement by NUPRC’s Head of Media and Strategic Communications, Eniola Akinkuotu, the Chevron boss praised the Commission’s leadership under Engineer Gbenga Komolafe and highlighted key reforms — including strict implementation of the Petroleum Industry Act (PIA) and the “willing buyer, willing seller” policy — as major confidence boosters for industry players.
Swartz noted that Chevron has operated for the past year without any incidents of pipeline vandalism or crude theft, calling it the company’s longest uninterrupted stretch in recent times. He also disclosed that TotalEnergies Nigeria recently signed a farm-out agreement with Chevron for a 40% stake in offshore licences PPL 2000 and PPL 2001, and urged the Commission to expedite approval to accelerate development work.
Looking ahead, Chevron plans to deploy a drilling rig by late 2026 to appraise a new discovery near Egbami. The company also expects to extend existing leases on some of its producing assets.
In his response, Komolafe described Chevron’s interest in the 2025 licensing exercise as a “clear indication that Nigeria remains a premium destination for energy investments.” He encouraged other operators to publicly share their positive experiences, saying such transparency helps attract new investors.
Komolafe added that the upcoming licensing round will build on the success of the 2024 edition, which the Commission has touted as the most transparent to date. He said the new process will be fully digital, with 50 oil fields already uploaded on the NUPRC portal.
The CCE also welcomed Chevron’s report of zero oil theft over the past year, linking the milestone to improved security efforts and the federal government’s push to stabilise the operating environment.
He urged investors to leverage Nigeria’s evolving fiscal and regulatory reforms, stressing that the Commission remains focused on ensuring a fair, predictable and technology-driven upstream sector.
