The Managing Director of Shell Petroleum Development Company (SPDC), Mutiu Sunmonu has reiterated that Shell is not in any way trying to leave the shores of Nigeria contrary to speculations in some quarters that it plans to pull out of Nigeria’s oil business.
Speaking during the sale of its Oil Mining Lease (OML) 34 to Niger Delta Western Ltd. in Abuja, Sunmonu said: “I will like to seize this opportunity to reiterate the fact that divestment of some of these assets does not mean Shell is exiting Nigeria…. A lot of people still equate this to mean that Shell is leaving Nigeria. We are not leaving Nigeria. We are here for the long run.’’ He revealed that Shell intends to concentrate on more complex and capital intensive projects in Nigeria as soon as the divestment plans are completed.
He explained that Shell “should not be struggling with small oil companies for small producing fields… having operated here for over 50 years,” hence, the need to “give opportunities to indigenous companies, especially in smaller fields”. Sunmonu urged the Nigerian Petroleum Development Company (NPDC) and the Niger Delta Western Ltd., to ensure the development of the oil and gas well.
