Chevron has called for a balanced and pragmatic approach to the future of energy in Nigeria.
Chevron said the approach would help to meet growing energy demand, ensure availability of affordable, reliable and ever-cleaner energy, while advancing the lower carbon future.
The Chairman and Managing Director, Chevron companies in Nigeria, Jim Swartz, made the call while speaking in a panel session at the 2025 Nigeria Oil and Gas (NOG) Energy Week in Abuja on Wednesday, July 2, 2025.
Stressing the need for a more pragmatic conversation about energy, Swartz reaffirmed Chevron’s belief that oil and gas will remain a viable component of the energy mix for the foreseeable future, and that the future of energy is lower carbon.
He stated that Chevron leverages its strengths to safely deliver lower carbon energy to a growing world while adapting to changes, continuously improving its processes, and building resilience to remain competitive while ensuring profitability.
Swartz said: “Chevron in Nigeria has embarked on a journey to improve and grow our business, which is referred to as the ‘North Star’.
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“Our North Star strategies include to: Improve Base Business, Grow Production and Monetize Gas Resources.”
He emphasised that Chevron continues to differentiate itself as the only IOCS that maintains its operations in Onshore, Shallow Water and Deepwater assets and one of the first to convert all its joint venture and Agbami leases under the Petroleum Industry Act (PIA) enabling further exploration and development.
“Our recent efforts to position ourselves for a new phase of growth include recent farm-in into OPL 215 to boost deepwater development opportunities, signing of 20-year renewal of 3 deepwater leases, completion of seismic data acquisition in our deepwater leases, the ongoing shallow water infill drilling program utilizing 2 rig, drilling of exploration wells and fast-tracking production from our Meji NW discovery,” the Chevron boss added.
He also emphasised the role of technology in increasing operational efficiency and decision-making, noting that technology plays a crucial role in driving energy development in the form of digital transformation, renewable energy, smart grid technology, supply chain optimisation, and environmental monitoring.
While appreciating the federal government of Nigeria for pursuing reforms in the oil and gas sector, Swartz urged more collaboration among the government, the private sector, and other stakeholders to improve the industry’s competitiveness.
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