Nigeria calls on explorers to stop waiting for PIB
Nigerian authorities want IOCs to develop new projects in the country, but uncertainty over the Petroleum Industry Bill continues to deter investment
IOCs should stop hanging on for the passage of Nigeria’s heavily delayed Petroleum Industry Bill (PIB) and instead emulate Total by sponsoring new projects, according to the Nigerian Content Development and Monitoring Board (NCDMB)—the government body tasked with increasing domestic involvement in the oil and gas industry and associated supply chains. According to the NCDMB, Total has made significant progress at the Ikike field, FID on which was taken in 2019, and will produce first oil before the end of 2021. It has been “difficult developing the project, particularly with the pandemic, but we are making progress”, says Total E&P managing director Mike Sangster. Ikike is a relatively s
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