fbpx
Saturday, July 24, 2021
Home Business TotalEnergies Committed To Nigeria’s Growth, Invests $60B

TotalEnergies Committed To Nigeria’s Growth, Invests $60B

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -

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

Bamidele disclosed at the Ongoing Nigeria Oil and Gas (NOG) Conference in Abuja, on Monday.

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

” TotalEnergies as we are now called has being in Africa for more than 80 years and have 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.https://scudnewsng.com

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

See also  Air Passengers Decry Upsurge in Fares, Seek Urgent Attention to Roads, Railway

” 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 companies activities had helped in creating jobs  and many other benefits in spite the challenging environment it operates.

See also  AGF Malami Asks Buhari To Suspend 1999 Constitution, Declare Martial Law On Nigeria - Report

 Represented by Olalere Babasola, Executive Manager, Government Relations,  he  said that as a Company,  TotalEnergies strongly believed 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.

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

See also  Tanzania Seeks Stronger Trade, Diplomatic Relations With Nigeria

He noted that Egina in terms of employment ensured over 47 million manpower development about 77 percent of the total project workload adding that 60 per cent of fabrication was also in 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 kilometers 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 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.

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

See also  DSS Arrests Israelis In Nigeria For Contact With IPOB

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 combine production is about 7.9 million per day in 2019.

See also  Petrol: We Will Maintain Current ex-Depot Price- NNPC

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

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

© 2021, Scud News. All rights reserved.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Sweden Phases Out Use Of AstraZeneca Vaccine

Sweden is gradually phasing out the use of the COVID-19 vaccine produced by the British-Swedish pharmaceutical company AstraZeneca.

Kano Makes NIN Compulsory For Public Secondary School students

Saidu-Kiru said the NIN would enable the ministry to have an updated data base for all students for the purpose of planning and optimum

Ex-banker, Wife, Mother–In-Law Jailed 60 Years for Stealing Depositors’ Fund

A former bank cashier, Ebenezer Adeolu Alonge, his wife, and mother-in- law, Isakunle Eunice Moradeke have been jailed by a court in Ekiti.

Public Display Of Affluence Dangerous, DSS Warns

The Department of State Services (DSS) has warned Nigerians on the dangers of public display of affluence, saying it is great security...

© 2020 – 2021, Scud News. All rights reserved.

%d bloggers like this: