The Federal Government formalized a Memorandum of Understanding (MoU) with the government of the Kingdom of Saudi Arabia, aiming to enhance bilateral relations and further shared interests in the oil and gas sector on Thursday
The MoU stands as a clear commitment to promoting collaboration and establishing a solid framework for cooperation between the two nations within the sector.
Nneamaka Okafor, the special adviser on media and communication to the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, announced this significant development in a statement on Thursday.
“The Federal Government of Nigeria, represented by the Honorable Minister for State Petroleum Resources (Oil), Senator Heineken Lokpobiri, and the Government of the Kingdom of Saudi Arabia, led by the Energy Minister, Prince Abdulaziz bin Salman, recently formalized a Memorandum of Understanding (MoU) in a noteworthy step towards strengthening bilateral ties and advancing mutual interests,” the statement explained.
It emphasized that Mr. Lokpobiri’s presence in Saudi Arabia reflected the importance of this vital national initiative, aligning seamlessly with the Ministry of Petroleum Resources’ overarching goal of enhancing production standards and technological advancements within Nigeria’s energy sector.
According to the statement, Mr. Abdulaziz bin Salman, signing on behalf of the Kingdom of Saudi Arabia, expressed optimism about the substantial impacts this strategic alliance would bring to both countries’ energy landscapes.