Chevron Nigeria has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its pro-business regulatory approach and confirmed that it will participate in Nigeria’s 2025 oil and gas licensing round.
Jim Swartz, Chairman and Managing Director of Chevron Nigeria/Mid-Africa Business Unit, gave the endorsement during a visit to NUPRC’s headquarters in Abuja on December 4, 2025.
He said the company remained committed to expanding its Nigerian portfolio.
“We will participate in the next licensing round. Our intention is to continue to grow in Nigeria,” Swartz said.
Chevron Praises NUPRC for Transparent, Predictable Regulation
Swartz applauded the leadership of the Commission Chief Executive, Engineer Gbenga Komolafe, describing the regulator as a “business enabler” that has strengthened investor confidence by faithfully enforcing the Petroleum Industry Act (PIA).
“My assessment is that you have continued to support us. You have shown that Nigeria is a leader in this sector. Chevron specifically appreciates the enforcement of the willing buyer, willing seller provision,” he noted.
He added that NUPRC has distinguished itself through transparency and responsiveness:
“The NUPRC listens. The NUPRC supports business. As a regulator, the NUPRC is transparent.”
Zero Oil Theft Recorded in One Year
In a significant development for Nigeria’s upstream sector, Swartz disclosed that Chevron had not experienced any sabotage, oil theft, or pipeline attacks in the past year.
“Chevron has not recorded any oil theft or attacks on our pipelines this year. This is the longest we’ve gone without oil theft,” he said.
The milestone underscores gradual improvements in security architecture and government-backed theft-reduction initiatives.
Chevron–TotalEnergies Deal Awaits NUPRC Approval
Swartz also revealed that TotalEnergies Nigeria has concluded a farm-out agreement to acquire a 40% stake in Chevron’s offshore exploration licences—PPL 2000 and PPL 2001.
Chevron is now seeking expedited regulatory approval to develop the assets.
“We are looking to the NUPRC for a swift approval as we aim to move quickly on these assets,” he said.
NUPRC: Nigeria Remains a Top Investment Destination
In his response, the NUPRC boss, Engineer Gbenga Komolafe, said Chevron’s plans to invest further in Nigeria demonstrate the country’s continued attractiveness for upstream capital.
“We are committed to delivering a transparent licensing round which will even be better than that of 2024. It will be transparent and digital. Our portal has gone live and we have 50 fields on offer,” Komolafe stated.
He also welcomed Chevron’s report of zero oil theft, crediting the achievement to security reforms implemented by the administration of President Bola Tinubu and the cooperation of security agencies.
