The OPEC-Nigeria Bilateral Meeting that held last week has sent yet another signal of the strong cooperation between the Organization of Petroleum Exporting Countries (OPEC) and Africa’s biggest producing country.
A statement by APO Group, a global media group, said such dialogue was key for compliance with the OPEC global production cuts deal of April, to which all of OPEC’s African member countries agreed to.
- Nigeria yet to implement OPEC oil cut agreement – FG
- $62bn oil debt not yet recovered – Malami
Nigeria’s support to global market stability and energy cooperation is significant and gives confidence to operators and future investors seeking to do business in West Africa.
The Executive Chairman at the African Energy Chamber, NJ Ayuk, said a strong message is being sent with OPEC helmsmen, Mohammed Barkindo and Dr. Ayed Al-Qahtani leading these discussions.
“We continue to support the Government of Nigeria, and the country’s Ministry of Petroleum Resources in their effort to improve the environment for investment and getting the industry to rebound post-COVID-19.”
Nigeria’s ongoing Marginal Fields Bidding Round was launched this year with significant success. It is expected to result in a new wave of local content development.