Nigeria: Total Ready for Discussions On New Oil Licences in Nigeria, Says Company

29 November 2019

Abuja — French oil company, Total, has said it was ready to open discussions with Nigeria on new oil licenses.

Total Chairman and Chief Executive Officer (CEO), Patrick Pouyanne, reportedly told the Minister of State for Petroleum Resources, Mr. Timipre Sylva, yesterday at a meeting.

Sylva, in a statement by his Special Adviser on Media, Mr. Garba Deen Muhammad, explained that the meeting also had in attendance the company's President for Exploration and Production (E&P), Arnaud Breuillac; Senior Vice President, E&P Africa, Nicolas Terraz; Country Chair/Managing Director of Total Upstream Companies in Nigeria, Mike Sangster; Deputy Managing Director, Deepwater District, Ahmadu-Kida Musa; and Executive Director, Corporate Affairs and Services, Abiodun Afolabi.

Pouyanne, it said, noted the company's commitment to deepening investments in the country.

He reportedly said: "Nigeria has a big potential that has not been fully explored and we (Total) are ready to open discussions for new licenses.

"We will continue to invest more and it is imperative to have conversations that will ensure a rewarding investment structure.

"In a show of commitment, Total is committed to reinvestments in the country from the proceeds of Egina venture."

Sylva, in his response, noted that Total has remained an important partner in Nigeria's oil and gas industry.

He also lauded its Nigerian content achievement in Egina field with a production of about 200,000 barrels of oil per day, representing over 10 per cent of Nigeria's production, at plateau.

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