Chevron Nigeria says it plans to participate in the 2025 oil licensing round, praising the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for creating a more attractive investment environment. During a visit to the regulator in Abuja, Chevron Chairman Jim Swartz commended the commission’s leadership, enforcement of the Petroleum Industry Act and support for the “willing buyer, willing seller” framework. “We will participate in the next licensing round,” he said.
Swartz noted improved security, stating that Chevron has recorded “zero incidents of sabotage” and no oil theft in the past year. He revealed that TotalEnergies has signed a farm-out agreement with Chevron for stakes in PPL 2000 and PPL 2001, pending regulatory approval. NUPRC Chief Executive Gbenga Komolafe welcomed Chevron’s interest, saying it shows Nigeria remains an attractive destination for investors as the commission prepares a fully digital, transparent 2025 licensing round.