The $550 million upstream gas project between the Nigerian National Petroleum Company Limited (NNPC Ltd.) and TotalEnergies on the development of the Ubeta field has commenced operations, the Presidency announced on Tuesday.
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The project, valued at N24.5 billion, twhich raverses mangrove forests with seven bridges and five culverts and connects 14 communities, is a part of activities to mark the one-year anniversary of the President Bola Ahmed Tinubu administration.
“There is always a new legislature in Nigeria about a new petroleum law. When you have such permanent debates, it’s difficult for investors looking for long-term structure to know what direction to go.”
“We met this morning, we made the first deal between both of us,” Pouyanne told a panel at the Africa CEO Forum in Kigali, Rwanda. “The two CEOs met with our head of trading and we found the way to convince them to make a deal,” he added.
In the continued gale of exit by Nigeria-based multinationals, ASHENEWS reports that the French oil major, TotalEnergies has announced plans to sell its minority stake in a major oil joint venture, and finally exit the country.
The Nigerian National Petroleum Company Limited (NNPC Ltd) has signed a Memorandum of Understanding (MoU) with TotalEnergies for adoption and deployment of Airborne Ultralight Spectrometer for Environmental Application (AUSEA) in its upstream operations.
Environmentalists have expressed concern on the biosafety, toxicity of dispersants used to mop up oil spills from offshore waters with fishes and other marine creature.
TotalEnergies Marketing Nigeria Plc on Tuesday carried out clean up and tree planting in two secondary schools in Edo as part of its climate action.
TotalEnergies, a leading energy company, has made history by becoming the first private sector company to receive 3-star recognition in the newly launched Fédération Internationale de l’Automobile (FIA) Road Safety Index.
The TotalEnergies E&P Nigeria says it will stop routine gas flaring in 2023 to actualise energy security and sufficiency.