The Federal Government of Nigeria has rained praises on TotalEnergies EP Nigeria Limited for its consistent operation in Nigeria now valued at $30 billion investments in the past eight years.
This is as the government expressed dissatisfaction with other energy companies that have declared plan to exit from the Nigerian market.
The government criticized Shell, Chevron, and ExxonMObil – three of five major oil companies in Nigeria- over their apparent withdrawal from investing further in the country’s oil and gas industry.
The statement was made by the Executive Secretary of the Nigeria Content Development and Monitoring Board (NCDMB), Mr Simbi Wabote at the weekend in Lagos, at the TotalEnergies’ EP Nigeria’s 60th anniversary dinner.
Mr Wabote noted that TotalEnergies has invested immensely in Nigeria’s oil and gas sector and deserves commendation for remaining consistent in investing in Nigeria, maintained that there is no basis for comparing the French oil giant with the likes of Shell, ExxonMobil and Chevron.
Specifically criticizing Shell for refusing to invest to develop the protracted Bonga Southwest project, which had been on the drawing board for many decades, Mr Wabote noted that on the other hand, TotalEnergies had started and completed many projects that were producing oil and gas in the country.
Meanwhile, the French oil giant maintained Nigeria remains at the heart of its strategy, and indicated plans to explore the power sector. It noted that the sector offers exciting opportunities that it would like to explore.
However, a check by BUSINESS METRICS revealed that Shell and ExxonMobil are not leaving the country anytime soon has speculated. A statement by the ministry of Interior Affairs quoted the Vice President, Human Resources, Shell, Olukayode Ogunleye, as assuring the Federal Government that Shell, Exxon Mobile were not leaving the country.
Who is Saying What?
“ Total has invested so much in Nigeria since the last 60 years. At the last count, we are looking at almost $30 billion worth of investment in Nigeria within the space of eight years.” Mr Wabote said.
“The amount of money Total has invested in this country, when you compare that with other International Oil Companies (IOCs), like Shell, Chevron, ExxonMobil, there is no basis for comparison.”
In his speech, President, Exploration and Production, TotalEnergies Group, Mr Nicolas Terraz. Stressed that TotalEnergies has been a major and proud partner with Nigeria in developing its oil and gas sector, maintaining that they have developed a lot of projects over the years.
“ A lot of progress has been made, but I know there are a lot of challenges as we near the end. I am counting on the project team, and, indeed, all the affiliates to apply yourselves to overcome these challenges and deliver the production safely” Mr Nicolas said.
