Nigeria needs to produce oil and gas at globally competitive cost and lower emissions intensity if it wants to keep attracting capital in a market where investors have grown more selective about which barrels they back, according to the new chief executive officer of Seplat Energy Plc.
Effiong Okon, who took over as CEO of the Lagos-based energy producer on the same day he addressed the Society of Petroleum Engineers Nigeria Council’s annual conference, told delegates in a keynote speech that global capital is no longer chasing reserves alone.
“Investors are not simply asking who has barrels,” Okon said at the 49th edition of the Nigeria Annual International Conference and Exhibition, known as NAICE. “They are asking who can produce safely, at competitive cost, with lower emissions intensity, credible governance, strong community relationships and predictable cash flows.”
The remarks come as recent shocks to global energy supply chains have sharpened
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