Total Energies Announces Major Investments In Joint Ventures And Expansion Initiatives

Total Energies Announces Major Investments In Joint Ventures And Expansion InitiativesThe Federal Government has reiterated its commitment to creating a conducive operational environment for investors in the energy sector, particularly focusing on the oil industry. This assurance came from the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, during a meeting with Total Energies President, Nicolas Terraz, in Abuja.....KINDLY READ THE FULL STORY HERE▶

In a statement released by the Minister’s Special Adviser on Media and Communication, Nneamaka Okafor, the discussions mark a significant step towards fostering long-term partnerships with international investors aimed at boosting production and promoting sustainable development in Nigeria’s energy sector.

During the meeting, Mr. Terraz expressed satisfaction with the government’s ongoing efforts to establish a stable and investment-friendly climate. He highlighted Total Energies’ interest in increasing its investments in Nigeria, specifically regarding the Bonga North Offshore project and joint ventures with Shell Petroleum Development Company and the Nigerian National Petroleum Company Limited. These projects have recently received board approval and are expected to be finalized by the end of the year.

“Total Energies appreciates the positive measures taken by the Nigerian government to create a favorable business environment. We remain committed to deepening our investments in Nigeria, particularly with opportunities from projects like Bonga North Offshore and our partnerships with SPDC and NNPCL,” Mr. Terraz stated.

Lokpobiri commended Total Energies for its longstanding partnership in Nigeria’s oil and gas sector and assured the company of the government’s unwavering support. He emphasized the government’s commitment to addressing past challenges that may have hindered investments, reinforcing the intention to welcome further investment in the oil sector.

“Investors need to see the assurances provided by the government being acted upon. We recognize the importance of fostering an environment where investors can confidently expand their operations, and we are addressing the company’s past requests. Nigeria is ready to facilitate more investments in the oil sector,” said Senator Lokpobiri.

The Minister further underscored the government’s dedication to ensuring that Nigeria remains a competitive and secure destination for global energy investments, noting that strategic partnerships with companies like Total Energies are vital for sustaining growth and development in the sector.

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