TotalEnergies said it would invest as much as $6 billion in Africa’s biggest oil producer in the years ahead.
The energy firm said it will target deep-water projects and
gas production at a time when international oil companies (IOCs) are shifting
attention away from onshore to offshore operations in Nigeria.
CEO Patrick Pouyanne told President Bola Tinubu during a
meeting in Abuja on Monday that the French company is in support of the current
administration’s policies and push to resolve insecurity issues in the
industry.
“Everything is here. We just need to conclude with the
tweaks and changes necessary to unlock the outstanding potential in both oil
and gas,” Mr Pouyanne was quoted as saying in a statement issued by Ajuri
Ngelale, special adviser to the president on media & publicity.
Nigeria contributes 8 to 10 per cent of TotalEnergies’
global output and is home to more than 18 per cent of its overall investments
but has been finding it difficult to get the oil major to retain its interest
in offshore assets, which have been pretty problematic for IOCs because of
their vulnerability to insecurity and vandalism.
Mele Kyari, the group managing director of NNPC Limited,
told senators in November that over 5000 kilometres of pipeline in the country
are not working, with the pipeline from Warri to Benin inactive for the past 22
years.
Last April, TotalEnergies announced plans to offload its 10
per cent minority stake in a joint venture holding 20 onshore and shallow water
permits in the country.
Norwegian state-owned international energy company Equinor
last month sold its interest in Chevron-operated Agbami field, one of Nigeria’s
largest deep-water oilfields to local rival Chappal Energies, continuing the
exodus or planned exit of IOCs like ExxonMobil and Shell.
TotalEnergies said it has struck a deal with NNPCL to
execute methane detection and measurement campaigns, employing its
sophisticated drone-based AUSEA technology on oil & gas assets in the
country.
“We will review troublesome areas, fiscally and otherwise,
to incentivize gas production in the age of transition to cleaner energy. We
are ready to make a difference as a government,” the statement quoted Mr Tinubu
as saying.
“The good handshake that we have is for partnership and to
accelerate and incentivize gas production in pursuit of the energy transition.”
Nigeria is on a drive to ramp up oil output, which hit a
multi-decade low of below 1 million barrels last year, hobbled by oil theft,
vandalism and decrepit infrastructures.
Output for November fell slightly to 1.37 million barrels
per day, compared to 1.38 million bpd one month prior, both far behind the
Organisation of Petroleum Exporting Countries’ production quota of 1.74 million
bpd.
0 comments:
Post a Comment