{"id":50304,"date":"2021-07-06T15:25:41","date_gmt":"2021-07-06T14:25:41","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=50304"},"modified":"2021-07-06T15:25:41","modified_gmt":"2021-07-06T14:25:41","slug":"totalenergies-explains-60b-investments-in-nigeria","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/totalenergies-explains-60b-investments-in-nigeria\/","title":{"rendered":"TotalEnergies Explains $60b Investments In Nigeria"},"content":{"rendered":"

Deputy Managing Director, Deep water District. TotalEnergies, Mr Victor Bamidele, on Monday said the company has invested over$60 billion in exploration and other projects in Nigeria.<\/p>\n

Speaking at the Ongoing Nigeria Oil and Gas (NOG) Conference in Abuja,\u00a0 Bamidele who spoke\u00a0on the topic : Expanding the Nigerian Content Frontiers through. intra-African Trade\u201d, said: \u201d 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.<\/p>\n

\u201d In the upstream sector we have a diversifying portfolio in Nigeria with facilities spanning in onshore, deep waters and LNG,\u00a0 we are very proud of strong partnership with the Nigerian National Petroleum Corporation ( NNPC) and various partners over the years.<\/p>\n

\u201d Our upstream branch plays a significant economic and Social role in the Nigerian contributing about 15 per cent of the country\u2019 s production.<\/p>\n

\u201d Nigeria as one of our core areas of activities is also crucial to TotalEnergies group accounting for 12 per cent of equity production.<\/p>\n

\u201cIn the past few years ago, TotalEnergies has invested approximately about 10 billion in the country through executing development projects,\u201d he said.<\/p>\n

He added that over the years the companies\u2019 activities had helped in creating jobs\u00a0 and many other benefits in spite the challenging environment it operates.<\/p>\n

Represented by Olalere Babasola,\u00a0 Executive Manager,\u00a0 Government Relations,\u00a0 he\u00a0 said that as a Company,\u00a0 TotalEnergies strongly believed in the vast potentials in Nigeria.<\/p>\n

He noted that EGINA Floating Production Storage and Offloading vessels(FPSO) was completed in 2018 and currently investing in the development of IKIKE Project.<\/p>\n

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.<\/p>

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He noted that Egina in terms of employment ensured over 47 million\u00a0 manpower development about 77 percent of the total project work load adding that 60 per cent of fabrication was also in country among many others.<\/p>\n

\u201cEGINA has increased Nigeria\u2019s crude oil production capacity by 10 per cent, \u201d he said.<\/p>\n

\u201d IKIKE development field is with OML 99, 20 kilometer offshore, is being developed as a statelite terminal in spite its size and content objective .<\/p>\n

\u201d Our target is to achieve 90 per cent local content with 100 per cent project management in country,\u00a0 100 per cent detail and basic engineering in Nigeria, 100 per cent procurement by locals 3000 direct jobs, refresher and on the job training, \u201c\u201d he said<\/p>\n

According to him,\u00a0 the project is expected to facilitate entry level training for 80 geo science students in the country.<\/p>\n

Commenting on the topic,\u00a0 he said that the topic was apt as there were currently 18 oil producing countries in Africa.<\/p>\n

According to him,\u00a0 African countries are among the top producers of oil globally adding that the combine production is about 7.9 million\u00a0 per day in 2019.<\/p>\n

This, this he said had made the\u00a0 sector important anf must bring value to the continent through effective implementation of local content<\/p>\n

The News Agency of Nigeria ( NAN) reports that the theme for the 2021 NOG is\u00a0 \u201d Fortifying the Nigerian oil and gas industry for economic stability and growth\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Deputy Managing Director, Deep water District. TotalEnergies, Mr Victor Bamidele, on Monday said the company has invested over$60 billion in exploration and other projects in Nigeria.\u00a0<\/p>\n","protected":false},"author":6,"featured_media":50305,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[8820],"coauthors":[2391],"class_list":["post-50304","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-totalenergies"],"yoast_head":"\nTotalEnergies Explains $60b Investments In Nigeria - National Wire<\/title>\n<meta name=\"description\" content=\"Deputy Managing Director, Deep water District. 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