TotalEnergies Plans Big Investments for Oil and Gas in Nigeria

TotalEnergies is strategically positioned to expand its oil and gas production in Nigeria, with an anticipated investment of $6 billion in the pipeline. Patrick Pouyanne, the group’s chairman and CEO, has articulated the company’s strong interest in exploring additional deepwater and gas production opportunities in the country.

According to Pouyanne, Nigeria offers substantial potential in both oil and gas, and the company is prepared to make substantial investments to capitalize on these opportunities. With approximately 30 oil-mining leases in Nigeria, TotalEnergies has a robust presence both onshore and offshore, alongside a stake in the country’s liquefied natural gas plant.

Pouyanne has underscored the strategic importance of Nigeria to TotalEnergies, emphasizing that the country contributes 8% to 10% of the company’s global oil and gas production, and accounts for over 18% of its worldwide investment. This highlights the company’s commitment to further developing its operations in Nigeria.

TotalEnergies’ concentrated focus on Nigeria comes at a time when the global energy landscape is evolving, with a growing emphasis on cleaner and more sustainable energy sources. Despite this shift, the company remains optimistic about the prospects of the Nigerian oil and gas sector, as it continues to play a significant role in meeting the world’s energy demands.

The planned investments in Nigeria are aligned with TotalEnergies’ broader strategy to expand its presence in crucial energy markets while concurrently working towards its sustainability goals. As a major player in the global energy industry, TotalEnergies is well positioned to leverage its expertise and resources to drive growth and development in Nigeria’s oil and gas sector.

In view of the ongoing developments, the company’s expansion plans are anticipated to generate positive economic impacts, including job creation and infrastructure development, in Nigeria. This is consistent with TotalEnergies’ commitment to being a responsible corporate citizen and contributing to the socio-economic progress of the countries in which it operates.

As TotalEnergies advances its ambitious investment plans for Nigeria, it remains steadfastly focused on upholding the highest operational standards and integrating best practices in its business activities. This approach underscores the company’s dedication to operating ethically, sustainably, and in compliance with all regulatory requirements.

With its long-term vision and unwavering commitment to Nigeria, TotalEnergies is poised to play a pivotal role in shaping the future of the country’s energy sector, while also creating value for its stakeholders and contributing to the overall development of the Nigerian economy.