Pipeline security crucial to Nigeria’s $50bn offshore target

Nigeria's $50bn offshore investment target for the oil and gas sector by 2030 is contingent on securing pipelines and ensuring stability in the Niger Delta, according to a report by Punch Nigeria. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has identified 22 major offshore projects that will drive the investment, with the goal of boosting crude oil production, creating jobs, and expanding energy infrastructure.

To achieve this target, the regulator emphasizes the importance of peace and stability in the Niger Delta and protection of national assets, particularly oil pipelines. Tantita Security Services Nigeria Limited, in collaboration with other security agencies, plays a crucial role in securing oil infrastructure in the region, contributing to a decline in violent events and fatalities in the oil-rich areas.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.