ExxonMobil, the American oil and gas giant, has confirmed it has no intentions of exiting Nigeria.
In a statement on Monday, Shane Harris, ExxonMobil’s managing director and chief executive officer, conveyed this during a visit to Heineken Lokpobiri, Nigeria’s minister of state for petroleum resources (oil).
During the meeting, as per a statement by Nneamaka Okafor, Lokpobiri’s spokesperson, Harris hinted at substantial new investments ExxonMobil plans to make in Nigeria’s energy sector.
He expressed optimism about the strengthened relationship between ExxonMobil and the Nigerian government, assuring that the company has no plans to leave the country.
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“We are excited about the prospects these new investments bring,” Harris said. “Our partnership with the Nigerian government is crucial for sustainable growth, and we look forward to continuing our collaboration as we have no plan to leave.”
Lokpobiri praised ExxonMobil for its commitment, noting that it aligns perfectly with Nigeria’s objectives.
“ExxonMobil’s planned investments are commendable and greatly appreciated. This renewed relationship is a testament to the mutual goals we share for the future of our energy sector,” he said.
Lokpobiri assured ExxonMobil of the government’s support, emphasizing the importance of offering full backing to the firm and other international oil companies (IOCs), “just as we do with independent operators.”
“Our collaborative efforts are key to the sustainable growth of our energy sector,” he added. “We are dedicated to ramping up production and ensuring a supportive environment for all investors by doing everything possible to maintain investor confidence in our country.”
The minister highlighted the importance of ongoing dialogue and partnership between the government and IOCs to drive innovation and growth in the sector.
In February 2022, Seplat announced an agreement to acquire ExxonMobil’s 40 percent stake in Mobil Producing Nigeria Unlimited (MPNU), but the divestment has stalled since then.
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However, in June 2024, the Nigerian National Petroleum Company (NNPC) Limited finalised a settlement agreement with ExxonMobil Nigeria regarding the proposed sale of its entire stake in Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited.
Reuters had also hinted at Exxon’s plans to exit Nigeria, after a report that the company is relocating staff from the 12-floor Mobil House, reportedly leased at the cost of $10 million annually, to a six-floor office building 22 kilometres away in the upscale Ikoyi area, built to accommodate half the personnel working at the former offices.
“The new office leaves no one in doubt about its plans for Nigeria,” a company staff told Reuters.
