See what ExxonMobil is saying about rumoured exit from Nigeria

• International oil company, ExxonMobil has addressed reports that it planning to leave Nigeria after 69 years since it commenced operations
• The rumours were triggered following NNPC's approval of the sale of some of ExxonMobil's assets to Seplat Energy Plc for $1.3 billion
• The oil company emphasised continued partnership with Nigeria and hinted at significant new investments it is injecting into the energy sector

Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology and the stock market.

Shane Harris, the Managing Director of ExxonMobil Nigeria, has confirmed that the company is not exiting Nigeria, contrary to some reports.

Harris reportedly made this statement during a meeting with the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, in Abuja.

ExxonMobil breaks silence on alleged plan to leave Nigerian after selling assets to Seplat
Source: UGC

This assertion comes amidst the company's planned divestment of its entire stake in Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited.

ExxonMobil not leaving Nigeria

Nneamaka Okafor, the Special Assistant on Media and Communications to the petroleum minister, revealed this information in a statement released in Abuja on Monday.

According to Punch, Harris reportedly stated that ExxonMobil, which began operations in Nigeria in 1955, is currently making new investments in the country's oil and gas sector.

The statement partly read:

“During the meeting, Mr Harris hinted at significant new investments that ExxonMobil is injecting into Nigeria’s energy sector.“He expressed confidence in the renewed relationship between ExxonMobil and the Nigerian government, assuring the government that the oil giant is not planning to leave Nigeria.”

The statement also quoted the ExxonMobil executive expressing enthusiasm about the potential of these new investments.

It emphasized that the partnership with the Nigerian government is essential for sustainable growth, and highlighted that ExxonMobil looks forward to continuing this collaboration with no intention of leaving the country.

Senator Lokpobiri praised the ExxonMobil team for their dedication to the Nigerian oil and gas sector, noting that it aligns well with the country's goals.

The statement further mentioned that their discussions included the ministry's support for both international and independent oil operators.

Lokpobiri reassured Harris of the government's backing, stressing the importance of fostering a thriving environment for all stakeholders.

Lokpobiri said:

“We fully support ExxonMobil and other lOCs, just as we do with independent operators. Our collaborative efforts are key to the sustainable growth of our energy sector.”

It should be noted that similarly, Shell Petroleum Development Company of Nigeria refuted rumours of its intention to exit Nigeria following the sale of its onshore business.

Source: Legit.ng