Total invests $5bn in Nigeria in 5 years

Total E&P Nigeria Limited has disclosed that it has invested the sum of $5 billion in the country in the last five years.

 

This is just as the House of Representatives Committee on Local Content expressed satisfaction in the contributions of the company to the country’s oil and gas industry.

The commendation came during the courtesy visit of members of the Committee to the Managing Director of Total E&P Nigeria Limited, Mr. Nicolas Terraz, at the weekend.

 

In his welcome remark, Terraz explained Total’s activities in Nigeria and the huge bouquet of projects that are contributing to the socio-economic development of the country.

 

He told the members of Parliament that “in the past five years Total has invested $5 billion in Nigeria despite the fairly challenging business environment.”

 

He further shed some light on the progress the company has made on its major projects such as the OML 58 Upgrade, Ofon Phase 2 and Egina that are contributing substantially to the development of Nigerian content.

 

He added that Total will from later this month July, 2016 commence delivery of gas through its Northern Option Pipeline (NOPL) to Alaoji Power Plant to improve electricity supply to Nigerians.

 

Also speaking, the Deputy Managing Director Deep Water District, Mr. Ahmadu-Kida Musa expressed the company’s commitment to the development of local content and the overall development of the country.

 

“As at the time we approved the Egina Project, all the other oil companies were running from Nigeria. When we took the bold step, others were asking what we were seeing that they were not seeing and for Total, it was our absolute belief in Nigeria and Nigerians’ ability to manage the project. After three years we are exceptionally proud of the project”, Musa said.