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Managing Director and Country Chair, TotalEnergies Exploration and Production (E&P) Nigeria Limited, Matthieu Bouyer has said the company would take the final investment decision (FID) on the Ubeta gas project in 2024, while some other big projects would follow shortly.
Bouyer made this disclosure when he led senior officials of the company to visit the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe at the Board’s Abuja liaison office.
An elated Bouyer noted that the company has had an outstanding track record in Nigeria as well as developed key oil and gas projects in the last 10 years, including in the deepwater and shallow water, Nigerian content records such as the fabrication of six modules of the Egina’s Floating Production Storage and Offloading (FPSO) vessel in Nigeria.
He also reassured the company was determined to unlock new projects in Nigeria and solicited the continued cooperation of the NCDMB for accelerated Nigerian Content reviews and approvals. He noted the Ubeta project, which is located at Oil Mining Lease (OML) 58 is an onshore project designed to contribute gas to the Nigeria Liquefied Natural Gas (NLNG) plant and meet other domestic gas supply needs.
According to Bouyer, other projects on the horizon include the Preowei deepwater project. The proposed project lies in (OML) 130, north of Egina field, with water depth of around 5,904 feet. He assured that the company would engage closely with the NCDMB to achieve speedy development of the project, increased crude oil production for the country and revenue.
The Executive Secretary in his remarks assured the TotalEnergies E&P team the Board would fast-track the approvals needed by the company to deliver speedily on its oil and gas projects. While referring to the Service Level Agreement (SLA) instituted by the Board with industry’s key stakeholders for shortening the contracting cycle, the NCDMB helmsman vowed the Board would strive to improve the turnaround time for its approvals on projects.
He further conveyed the commitment of the NCDMB to create an enabling environment that would attract investments and new projects into the sector, thereby creating employment opportunities for youths and addressing insecurity in the polity, in line with the present administration’s renewed hope agenda.
He charged the company to comply with the provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, assuring the Board would support all bankable oil and gas projects and grant accelerated approvals once they meet the specified Nigerian Content regulations.
Speaking further, the Executive Secretary proposed the constitution of a technical working group (TWG) with representatives of NCDMB and TotalEnergies E&P. He recommended that the TWG could meet quarterly to proactively address pertinent issues that relate to the company’s projects and the Board’s expected roles.
Earlier, the Nigerian Agip Oil Company (NAOC) led by the Managing Director/ Vice-Chairman, Fabrizio Bolonoi visited the Board’s liaison office. The purpose of the visit was to congratulate the Executive Secretary on his appointment and convey the company’s willingness to support his leadership and develop new oil and gas projects in Nigeria.
