The federal government has called on International Oil Companies (IOCs) operating in Nigeria to ensure development and utilization of their assets, as it disclose plans to begin implementing the drill or drop provisions of the Petroleum Industry Act (PIA) where necessary. Heineken Lokpobiri, minister of Petroleum Resources (Oil), stated this at the Cross Industry Group (CIG) meeting organized by IOCs operating in Nigeria, held in Florence, Italy. According to Lokpobiri, industry players are expected to explore collaborative measures such as shared resources for contiguous assets, farm-outs, and the release of…
Read MoreNigeria Mulls Drill Or Drop Policy For Shell, TotalEnergies, Chevron, Others
