Heineken Lokpobiri, minister of state for petroleum resources (Oil), says Hyde Energy Limited, a downstream and midstream energy company, is interested in the upstream market.
The minister, on Wednesday, disclosed this on X, formerly Twitter, after a meeting with Oladimeji Edward, chief executive officer (CEO) of Hyde Energy Limited.
He said the move by Hyde for exploration of oil and gas, was complementary to the local content developmental agenda in the country
“Our discussion left me quite intrigued as Hyde Energy, a well-established downstream energy company, is eyeing the upstream sector, a move complementary to our local content developmental agenda,” he said.
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“As we talked, it became evident that Nigeria’s energy sector is now more appetizing than ever for industry players.”
The minister said the renewed hope administration under President Bola Tinubu is wholeheartedly committed to increasing petroleum production and “this commitment is resonating across the sector”.
He added that “Hyde Energy’s interest in venturing into the upstream sector aligns perfectly with our vision for a robust and diversified energy landscape. Collaborations like this are essential for the growth of our nation”.
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Lokpobiri expressed delight that the government will partner with forward-thinking companies, as they work towards a brighter energy future for Nigeria.
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