By Adedapo Adesanya
TotalEnergies has secured approval from its board for significant investment in the Bonga North Offshore project, marking a pivotal step in its commitment to expanding offshore operations in Nigeria.
This was announced during a meeting between Mr Nicolas Terraz, TotalEnergies’ President of Explorations and Production, and Mr Heineken Lokpobiri, Nigeria’s Minister of State for Petroleum Resources (Oil) recently.
During the visit, Mr Terraz expressed the company’s satisfaction with the Nigerian government’s efforts to create a favourable operational environment for investors.
He also discussed plans for further potential investments, including joint ventures with Shell Nigeria and the Nigerian National Petroleum Company (NNPC) Limited with a goal to finalize the deals by year-end.
Responding, the Minister of State for Petroleum Resources (Oil), Mr Lokpobiri, affirmed Nigeria’s commitment to fostering a secure and attractive investment climate, highlighting the country’s readiness to address TotalEnergies’ requests and support the success of their initiatives.
Mr Lokpobiri commended TotalEnergies for being a reliable and trusted partner in the development of Nigeria’s oil sector and assured Terraz that Nigeria was fully committed to supporting and encouraging further investments in the sector.
“Every necessary assurance to investors must not only be given but must also be visibly demonstrated.“Our energy sector holds tremendous potential, and we will continue to ensure it remains a secured and attractive destination for investors like TotalEnergies.”
“The requests previously made by TotalEnergies are being addressed, and we remain ever ready and willing to provide the necessary conditions for the success of their ventures.”