TotalEnergies ready to invest $6 billion in Nigeria
Investment | logistics | Oil Gas | production | SupplyChain
Par Ibrahima DIALLO
19 December 2023 / 15:20

TotalEnergies is ready to invest $6 billion over several years in Nigeria's energy industry, particularly in gas and offshore projects, according to the Nigerian presidency.

We are ready to invest $6 billion over the next few years. We are looking in depth at more opportunities for deepwater and gas production," said TotalEnergies CEO Patrick Pouyanné, according to a press release from the presidency.

On Monday, Head of State Bola Ahmed Tinubu met with Mr. Pouyanné in the capital Abuja. "Everything is there. We just need to finalize the adjustments and changes needed to unlock the exceptional potential in oil and gas," continued Mr. Pouyanné, according to the Presidency.

Nigeria is "very important" for TotalEnergies, which accounts for between 8% and 10% of the Group's total oil production, according to the CEO quoted in the press release.

For his part, the Nigerian president pledged to "remove all obstacles in the oil and gas industry". "We are ready to work with you," he said.

The oil and gas major indicated that it "has a substantial portfolio of projects that could represent $6 billion in investments over the next few years".

Ten days ago, the Nigerian President's office announced similar commitments from British oil and gas giant Shell, for $6 billion in offshore, natural gas and liquefied natural gas (LNG) projects.

Since his inauguration at the end of May, Bola Ahmed Tinubu has taken a series of economic measures aimed at attracting more foreign investment to this oil-producing country and OPEC member.

Le360 Afrique (avec MAP)

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