TotalEnergies has reaffirmed its long-term commitment to Nigeria but warned that the country must remain competitive to win scarce global energy investment, as the company continues to grow oil and gas production while rolling out low-carbon power projects.
Managing Director TotalEnergies EP Nigeria, Matthieu Bouyer, made this known while speaking on the company’s strategy in Nigeria during a panel session on “Capitalising on Africa’s Global Upstream Momentum” yesterday in Abuja, at the ongoing Nigeria International Energy Summit (NIES) in Abuja.
Bouyer noted that the energy major’s global plan was built on two pillars: expanding oil and gas output and scaling up electricity generation and integrated power. He said: “Our strategy rests on two core pillars: growing oil and gas production, and expanding electricity generation and integrated power. In essence, it’s about growing energy as a whole.”
Bouyer noted that Nigeria sits at the heart of TotalEnergies’ oil and gas portfolio, but attracting fresh capital depends on how competitive the country remains compared to other investment destinations.
“One of our daily challenges is demonstrating that investments in Nigeria represent the strongest opportunities for growth. We are competing with other countries and projects for capital, so it is critical that Nigeria remains attractive.”
The Total energies Executive explained that the company was currently prioritizing value optimization from existing assets, both onshore and offshore, spanning onshore gas as well as offshore oil and gas fields.
