Shell urges Nigerian govt to resume exploration activities
By Joseph Bamidele
ABUJA-Shell has urged the federal government to allow the resumption of exploration activities in order to double production and attract hundreds of billions of dollars of investment which will result in increased direct government income, more jobs, gas to power supply and more economic activity.
Speaking at the recently held Nigeria Oil and Gas conference in Abuja, the Executive Vice President, Sub-Saharan Africa Shell Exploration and Production Africa Ltd, Mr. Ian Craig, said the resumption of exploration would hopeful help to achieve the aspiration of four million bbls per day.
Craig said that a collaborative approach will provide a sustainable boost to economic growth and employment and also enhance development in the industry.
He also said shell companies in Nigeria look forward to working with the ministry of petroleum and other key government agencies to turn these aspirations into reality.
“We should simply roll our sleeves up and get going, invest for growth now because we will surely need it in years to come”.
He explained that with global energy demand set to rise, Nigeria has the resources to be a major global energy supplier for decades to come; it also has the opportunity to use the industry as a lever to accelerate broader economic development.
He further said shell needs action now by a number of stakeholders if it is going to fulfill its potential.
“Together we can move Nigeria much closer to realizing its aspirations”.
He stated that the relatively high reserves to production ratio that Nigeria enjoys, particularly in gas suggests that the country can comfortably sustain much higher levels of production.
“Onshore, shallow water, deep water and gas sectors have held back development and have unfortunately led to a reduced appetite for exploration, this in turn, I believe, results in Nigeria’s reserves probably being materially understated”.