The Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri has urged the management of Eni to fast track its Final Investment Decisions (FIDs) on the $20 billion Zabazaba and Bonga West projects.
He made the call during a meeting with the management in his office in Abuja on Wednesday.
“I urged ENI to fast-track the FID process so that Nigerians can begin to enjoy the economic benefits and opportunities arising from these strategic investments,” he said.
According to the minister in his X handle, the project is expected to raise Nigeria’s crude oil production by 150,000 barrels per day.
He said, “I met with the management team of ENI, who visited for a briefing on the progress of their ongoing projects, particularly the Zabazaba and Bonga Southwest developments, as they prepare for their Final Investment Decisions (FIDs).
“The projects, valued at about $20 billion, are expected to add 150,000 barrels per day to our current production capacity, significantly boosting Nigeria’s oil output.”
Lokpobiri also revealed that the meeting focused on the key milestones required to achieve the FIDs and explored opportunities for collaboration with local and international partners to advance the projects and maximize their impact on Nigeria’s economy.
The minister reaffirmed government’s commitment to putting in place all the necessary support for the successful delivering of the projects.
“While reaffirming our commitment to providing all necessary support for the successful delivery of these projects,” he said.