Emmanuel OchayiIn a move to bolster Nigeria’s energy landscape, Patrick Pouyanne, head of TotalEnergies, engaged in talks with President Bola Tinubu in Abuja, solidifying their commitment to Nigeria’s oil and gas industry with a pledge of $6 billion.
Directing their focus toward offshore projects and gas production, TotalEnergies announced a collaboration with NNPC Ltd, utilizing cutting-edge drone technology for methane detection and measurement.
“We are dedicated to investing $6 billion in the coming years,” Pouyanne affirmed, underscoring the company’s support for Nigeria’s energy development during the high-level meeting.
READ ALSO: TotalEnergies Confirms Containment Of Egina FPSO Oil Leak
This investment aligns with Tinubu’s efforts to attract capital and revitalize Nigeria’s energy sector.
The President’s office emphasized the nation’s struggle with declining oil output due to theft and sabotage but noted recent positive trends, particularly in offshore production that’s less susceptible to attacks.
Tinubu reaffirmed his commitment to eliminate barriers hampering investment in the oil and gas industry and pledged incentives to augment gas output, aiming for a revitalized sector and economic growth.
This commitment from TotalEnergies follows Shell’s recent $5 billion investment pledge in Nigeria’s deep-water project, showcasing growing confidence from major oil companies in the country’s potential.
With the announcement from TotalEnergies, coupled with ongoing efforts to address divestments and insecurity, Tinubu’s administration aims to usher in a new era of sustainable economic growth not only in the oil sector but across various industries.
Follow Us