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HomeNewsMultinational oil giant to invest in Nigeria power sector

Multinational oil giant to invest in Nigeria power sector

One of the leading multinational oil companies, Total Upstream Companies, has expressed its readiness to invest in Nigeria’s power sector and participate in the domestic gas development in the country.

The private Guardian newspaper Thursday quoted the company’s Chief Executive Officer Christophe de Margerie as saying that despite the challenging economic conditions, the company would remain a reliable partner with Nigeria.

It also it would invest in other new projects in the Deep Water and NLNG with Brass.

Total recorded another landmark with its offshore Usan field, which boosted Nigeria’s daily output by about 180,000 barrels per day.

It is the second deep offshore development operated by Total in Nigeria, coming on stream less than three years after Akpo oil field.

“From the onshore to the classical offshore and now to deep offshore, Total has made significant successes, adding to Nigeria’s reserves base and production capacity.

”But beyond geographical and geological frontiers, we have also embraced new concepts and business models, making it one of the pioneers in the monetization of gas by our early investment in the NLNG, to be followed by the Brass LNG,” de Margerie said.

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