The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has praised the partnership among the Nigerian National Petroleum Corporation Limited (NNPC Ltd.), Caverton Offshore Support Group, and Stenabulk as a major achievement in enhancing local content, optimizing shipping activities, and advancing economic growth.
Speaking during a strategic engagement with the joint venture partners, Lokpobiri emphasized the importance of synergy across industry sectors to achieve Nigeria’s profitability goals.
“For us to maximize expected profitability and deliver long-term value to the nation, every sector of the industry must be actively firm and aligned with one another,” the Minister said.
He described the partnership as a clear demonstration of the government’s local content agenda translating into concrete action, and praised the involvement of Caverton, a homegrown company, in the initiative.
“I am pleased to see a Nigerian company at the heart of this strategic partnership. It is not only a reflection of our commitment to inclusive development but also ensures national participation something that strongly aligns with our Local Content policy. This initiative will boost the economy by ensuring revenue retention within our borders,” he stated.
Lokpobiri also praised NNPCL for its leadership in driving sectoral transformation and acknowledged President Bola Tinubu’s foresight in fostering reforms that enable such strategic partnerships.
“This joint venture is a testament to the President’s vision. It reflects the kind of impact-driven collaboration that we believe will transform the energy sector and strengthen Nigeria’s economic position,” he said.
The Chief Operating Officer of Caverton Offshore Support Group, Olabode Makanjuola, expressed the company’s commitment to the success of the partnership.
“We are proud to be a part of this collaboration. Caverton brings a strong understanding of local operations and a firm commitment to demonstrating that indigenous capacity can deliver world-class results,” he noted.
General Manager of Stenabulk, Fredrik Eriksson, was equally upbeat about the endeavour, calling it “a unique opportunity to merge international shipping expertise with local operational strength.
“We are thrilled to work with NNPC and Caverton to innovate and improve the industry,” he said.