TotalEnergies has secured board approval for a major investment in Nigeria’s Bonga North Offshore project, reinforcing its commitment to expanding its offshore activities in the country. This was revealed during a meeting between Mr. Nicolas Terraz, President of Exploration and Production at TotalEnergies, and Mr. Heineken Lokpobiri, Nigeria’s Minister of State for Petroleum Resources (Oil).
Mr. Terraz praised the Nigerian government’s efforts in creating a favorable business environment for investors and highlighted plans for additional joint ventures with Shell Nigeria and the Nigerian National Petroleum Company (NNPC) Limited, with the goal of finalizing agreements by the end of 2024.
In response, Mr. Lokpobiri affirmed Nigeria’s dedication to fostering a secure and attractive investment climate for global energy firms, promising to address TotalEnergies’ requests and ensure the success of their projects. He commended TotalEnergies as a reliable partner in Nigeria’s oil sector, reiterating the government’s commitment to supporting further investments.
“Our energy sector holds tremendous potential, and we will continue to ensure it remains a secure and attractive destination for investors like TotalEnergies,” said Mr. Lokpobiri.
The Bonga North Offshore project marks a significant development in Nigeria’s offshore oil landscape, promising to boost production and strengthen partnerships within the energy sector.
