Wednesday, 1 August 2012

Total invests N160b in Nigeria, targets additional 350,000bpd capacity

Total Upstream Companies in Nigeria, according to its Managing Director/Chief Executive Officer, Total Upstream Companies in Nigeria,  Guy Maurice, has invested about $10 billion (N160 billion) in various oil and gas projects in Nigeria in the past five years. The oil multinational is also planning to add about 350,000 barrels per day capacity to the nation’s oil production within the next three years through its Usan and Akpo oil fields. Maurice made this revelation while examining the company’s operation in Nigeria, in its “Focus Nigeria”, and added that Total has a bright future in Nigeria and would continue to invest in the country.

Maurice said the company has completed the full re-organization, in order to be ready for the next phases which include the development of new projects like Egina; completion of development of new projects such as OML58 upgrade, Ofon phase II.

The Total boss said the company has faced several challenges operating in Nigeria, which it is well positioned to overcome. He said that there among other challenges, Total’s employees know that from time to time they face the challenge of abduction necessitating that the company ensures maximum security for staff.

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