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TotalEnergies committed to Nigeria’s growth, invests $60bn

Deputy Managing Director, Deep Water District, TotalEnergies, Mr Victor Bamidele, says the company has invested over $60 billion in exploration and other projects in Nigeria.

Patrick Pouyanné
Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies

Bamidele made the disclosure in Abuja on Monday, July 5, 2021 at the Nigeria Oil and Gas (NOG) Conference, which will come to a close on Thursday, July 8.

He spoke on the topic: “Expanding the Nigerian Content Frontiers through. intra-African Trade.”

”TotalEnergies as we are now called has been in Africa for more than 80 years, and has been working in exploration activities in Nigeria for over 60 years.

”In the upstream sector we have a diversifying portfolio in Nigeria with facilities spanning in onshore, deep waters and LNG, we are very proud of strong partnership with the Nigerian National Petroleum Corporation ( NNPC) and various partners over the years.

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”Our upstream branch plays a significant economic and social role in the Nigerian contributing about 15 per cent of the country’s production.

”Nigeria as one of our core areas of activities is also crucial to TotalEnergies group accounting for 12 per cent of equity production.

“In the past few years ago, TotalEnergies has invested approximately about 10 billion in the country through executing development projects,” he said.

He added that, over the years, the company’s activities had helped in creating jobs and many other benefits in spite the challenging environment it operates.

Represented by Olalere Babasola, Executive Manager, Government Relations, he said that, as a company, TotalEnergies believes in the vast potentials in Nigeria.

He noted that Egina Floating Production Storage and Offloading vessels (FPSO) was completed in 2018 and currently investing in the development of Ikike Project.

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He said that Egina was developed in 2013 after the NOGIC act was established, adding that it remained the company’s third biggest FPSO project that had boosted local content.

He noted that Egina in terms of employment ensured over 47 million manpower development about 77 percent of the total project work load adding that 60 per cent of fabrication was also in the country among many others.

“Egina has increased Nigeria’s crude oil production capacity by 10 per cent,” he said.

”Ikike development field is with OML 99, 20 kilometre offshore, is being developed as a statelite terminal in spite its size and content objective.

”Our target is to achieve 90 per cent local content with 100 per cent project management in the country, 100 per cent detail and basic engineering in Nigeria, 100 per cent procurement by locals 3000 direct jobs, refresher and on-the-job training,“ he said.

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According to him, the project is expected to facilitate entry level training for 80 geo science students in the country.

Commenting on the topic, he said that the topic was apt as there were currently 18 oil producing countries in Africa.

According to him, African countries are among the top producers of oil globally, adding that the combined production is about 7.9 million barrels per day in 2019.

This, he said, had made the sector important anf must bring value to the continent through effective implementation of local content.

The theme for the 2021 NOG is ”Fortifying the Nigerian oil and gas industry for economic stability and growth”.

By Edith Ike-Eboh

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