FG ASKES FOR THE RETURN OF FOREIGN OIL CONTRACTORS
Heineken Lokpobiri, the Minister of Petroleum Resources (Oil), has urged construction, procurement, and equipment firms that have left Nigeria’s oil and gas industry to come back.
At the 2025 Nigeria Annual International Conference and Exhibition, which was hosted by the Nigerian Council’s Society of Petroleum Engineers, Lokpobiri made the appeal on Monday. He claimed that the administration of President Bola Tinubu had put a lot of effort into making Nigeria an attractive place for foreign investment.
“I would like to use this opportunity to make a strong case to Engineering, Procurement, and Construction companies that have previously operated in Nigeria and have since exited. The current administration has worked tirelessly to ensure a more stable and investment-friendly business environment,” he said.
According to the oil minister, the government acknowledges the contribution EPC businesses provide to the energy industry and encourages them to come back to Nigeria, which he describes as a stable and lucrative location for them.
“With reforms given by the Petroleum Industry Act and other strategic incentives, Nigeria is positioned as a dependable and rewarding destination for EPC companies. We recognise the pivotal role EPC companies play in infrastructure development, project execution, and technology transfer within the energy sector. Therefore, we invite you to return, reinvest, and become part of Nigeria’s renewed journey toward energy security and economic prosperity,” Lokpobiri said.
In the past, several EPC companies, including Willbros and McDermott, were based in Nigeria. It was discovered that the industry is suffering from a shortage of EPC contractors, particularly in the deep water blocks.
Lokpobiri recently warned International Oil Companies that they run the risk of losing underutilized assets during the Cross Industry Group meeting in Florence, Italy, where he voiced concerns about the large number of undeveloped and dormant oilfields in Nigeria.
IOCs now need to make firm financial pledges to boost output, he said, because the Tinubu administration had established a favorable investment climate. IOCs reportedly cited the difficulties presented by EPC contractors as a significant obstacle to project implementation during the meeting.
According to OGULAGHA VANGUARDS, there are over 220 oil blocks that remain dormant in various onshore and offshore basins throughout the nation. According to a report by the Nigerian Upstream Petroleum Regulatory Commission, deep offshore is where 59 of these are located.
At a time when the global energy landscape is being shaped by a complex interplay of forces, including geopolitical tensions, supply chain disruptions, currency fluctuations, climate concerns, and growing contestations over resource access, Lokpobiri said, speaking on the NAICE conference’s theme, “Building a Sustainable Energy Future: Leveraging Technology, Supply Chain, Human Resources, and Policy.”
One of the most sensitive topics we still need to deal with in the global energy crisis is technology. Innovation must continue as the globe shifts to cleaner energy sources. Technology is improving the accuracy, cost-effectiveness, and environmental consciousness of exploration through non-invasive methods including aircraft surveys and sophisticated collection.
“Furthermore, with the rise of artificial intelligence, we are seeing a transformation in how oil and gas operations are managed, delivering high productivity at lower costs, and improving our ability to serve national development goals,” Lokpobiri said in the speech read by one of his aides.
The minister stated that it is crucial that Africa develop the human capability required to propel and maintain the growth, even as the continent continues to explore and develop petroleum resources to support a balanced energy mix and produce income.
He went on to say that the federal government is dedicated to giving Nigerians the education and tools they need to be competent and competitive in the rapidly changing energy sector of today.
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