Petroleum: Ministry Moves To Attract Fresh US Investments

The Ministry of Petroleum Resources is looking to attract more investments from the United States and strengthen cooperation in the energy sector.

The Minister of State for Petroleum Resources, Chief Timipre Sylva, was part of the Nigerian delegation at the US-Nigeria Binational Commission Meeting held in Washington DC on February 3-4, according to a statement.

Sylva, who was accompanied by the Group Managing Director of Nigerian National Petroleum Corporation, Mallam Mele Kyari, held a strategic meeting with the Assistant Secretary, US Department of State’s Bureau of Energy Resources, Frank Fannon.

The ministry said the focus of the meeting was on upstream investments and support for the NNPC’s infrastructure projects.

It said in a bid to secure alignment on the US oil and gas investments while deepening support for the NNPC’s infrastructure projects, the government officials also met the Principal Deputy Assistant Secretary, Office of International Affairs of the US Department of Energy, Matthew Zais.

The statement said, “Strategic meetings were held with the US International Development Finance Corporation where Sylva met the Managing Director for Africa, Worku Gachou, and other top executives to seek financing intervention for the NNPC’s projects and deepening of engagements with Investors to deliver infrastructure projects.

According to the statement, the minister also led the team to visit the US Trade and Development Agency where he met with the acting Deputy Director, Todd Abrajano, and other key executives.

“The conversation focused on establishing strategic investor relations that will culminate in investments in Nigeria,” the ministry added.