Total Energies committed to Nigeria’s growth, invests $60 billion

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

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

He spoke on the topic ‘Expanding the Nigerian Content Frontiers through Intra-African Trade’.

He said: “Total Energies 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 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.

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

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

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

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

Represented by Olalere Babasola, Executive Manager, Government Relations, he said that as a company, Total Energies strongly believes in the vast potential in Nigeria.

He noted that EGINA Floating Production Storage and Offloading vessel (FPSO) was completed in 2018 and is 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 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 per cent of the total project work load.

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

“IKIKE development field is with OML 99, 20 kilometer offshore, and is being developed as a statelite terminal in spite of 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.