Chevron Nigeria Highlights Regulatory Certainty as Key to Growth in Nigerian Oil and Gas Industry

Chevron Nigeria Limited emphasizes the importance of strengthening regulatory frameworks in the Nigerian oil and gas industry to drive growth opportunities. Chairman and Managing Director Jim Swartz represented by Segun Kuteyi, Director of Operations and Chief Operating Officer, Chevron Nigeria and Mid Africa Region spoke at the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit (PEALS) in Abuja on August 19, 2026.

Nigeria is one of the world's most resource-rich energy nations with substantial oil reserves, abundant natural gas, a strategic location, and a skilled workforce. However, Jim stressed that resources alone are not enough to guarantee success, emphasizing that a predictable, transparent, and efficient regulatory framework builds confidence and attracts investment.

Chevron has seen growth opportunities post-Petroleum Industry Act (PIA) 2021 with key drivers being exploration and new discoveries, infill drilling, and brownfield optimization. The company has achieved several milestones including the renewal and conversion of its Joint Venture and Deepwater leases, continued investment in exploration and gas development, and recent acquisition of Deepwater block, Petroleum Prospecting License (PPL 2010).

Jim highlighted the importance of strengthening regulatory certainty, advancing transparency and accountability, driving investment across the value chain, promoting collaboration, supporting innovation and digital transformation, and building workforce capability and future-ready skills.