Total Group five years investments hits $10bn approx in the Nigeria economy– Musa

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The management of the Total Upstream branch plays a significant economic and social role in Nigeria, operating nearly 15 percent of the country’s production.The Deputy Managing Director, Deep-water District, Total E&P Nigeria Limited, Engr Ahmadu-Kida Musa said Nigeria, as one of our core areas of activities, is also crucial to the Total Group, accounting for 15% of its equity production. In the last five years, Total has invested approximately $10billion in the country.

He stated this during the National Association of Energy Correspondents annual conference held in Lagos recently.

Musa who said he delighted to attend the 2018 NAEC conference to brainstorm on some critical issues that are at the heart of the future of the oil & gas industry in Nigeria.

“Total will remain proudly committed to Nigeria and Nigerian content and will always continue to act in ways that promote these idealsby Ahmadu-Kida Musa, The Deputy Managing Director, Deepwater District, Total E&P Nigeria Ltd.

The deputy managing director said the theme of the Conference; “Petroleum Industry Governance Bills: Emerging Issues and Concerns” is as relevant as it is timely as the Nigerian oil & gas industry is currently undergoing certain reforms that, we expect, will have some far-reaching impact on the way we conduct business in the sector.

“As you already know, the Petroleum Industry Governance Bill (PIGB) was passed by the National Assembly last month and is currently awaiting assent by President Muhammadu Buhari. The PIGB is the first in a series of four proposed bills that constitute the legal framework for the petroleum sector reform of the federal government. The three other bills that are currently undergoing various legislative processes at the National Assembly include, the Petroleum Industry Administration Bill (PIAB), Petroleum Industry Fiscal Bill (PIFB) and Petroleum Host Community Bill (PHCB).”

“As it is usually the case with new legislation, especially one as fundamental as this, there are bound to be some initial concerns. But we believe that these concerns can be easily addressed through dialogue and legislative public hearing. Our thoughts and concerns on the PIGB and the rest of the proposed bills have been articulated by our umbrella organization, the Oil Producers Trade Section (OPTS) of the Lagos State Chamber of Commerce and Industry.”

Musa said despite the challenging operating environment, Total is committed to investing in the country. We, therefore, believe that when Nigeria prospers, Total also prospers.

He disclosed that “our Egina Deepwater development project, which is nearing completion, will add 200000 barrels of oil per day to Nigeria’s production by the last quarter of this year. You recall that the Egina FPSO arrived at quayside of the SHI-MCI Yard on LADOL Island, Lagos in January this year. Iam pleased to inform you that we have now completed the integration of the topsides of the Egina FPSO and it should sail away to the field for hook-up operation soonest.”

He also said just a few weeks ago, Total, along with our NLNG partners-which include the NNPC, Shell, and Eni, signed the Front-End Engineering Design (FEED) contract Train 7 plus project. This is a significant achievement as a completed FEED process will pave the way for Engineering, Procurement and Construction (EPC) pricing and bidding process which is preconditions for the Final Investment Decision (FID), he added.

Musa affirmed that Total will continue to intensify its efforts in exploration and appraisal activities. Our plan is to maintain aggressive exploration and appraisal wells drilling in order to play our part in increasing the hydrocarbon resource base of the nation.

He reiterated that “Total will remain in business by continuing to adapt to the dynamic economic environment. We will do this through cost optimization but without any compromise on our safety standards. We shall continue to capitalize on our strengths to secure future growth by leveraging on current market conditions to extend our production.

 

The Caption Photo: The Deputy Managing Director, Deep-water District, Total E&P Nigeria Limited, Engr Ahmadu-Kida Musa


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