The Minister of Petroleum Resources, Heineken Lokpobiri, has announced that TotalEnergies is prepared to finalize an investment deal in the North Offshore project, along with joint ventures with Shell Petroleum Development Company and the Nigerian National Petroleum Company Limited.
Lokpobiri made this disclosure after a meeting with the President of TotalEnergies, Mr. Nicolas Terraz in Abuja, according to Nairametrics
He stated that these projects have recently received board approval from the international oil company and are expected to be completed by the end of the year.
“Our energy sector holds tremendous potential, and we will continue to ensure it remains a secured and attractive destination for investors like TotalEnergies, even as Mr. Terraz spoke on the company’s plans for further investments in Nigeria, highlighting their Board’s recent approval for investment in the Bonga North Offshore project and other joint ventures with SPDC and NNPCL, committing to closing these deals before year-end.
“I commended TotalEnergies for being a reliable and trusted partner in the development of our oil sector and I assured Mr. Terraz that Nigeria is fully committed to supporting and encouraging further investments in the sector. The requests previously made by TotalEnergies are being addressed, and we remain ever ready and willing to provide the necessary conditions for the success of their ventures,” Lokpobiri said.
The Minister emphasized the government’s commitment to making Nigeria a competitive and secure destination for global energy investments.
He noted that strategic partnerships with companies like TotalEnergies are crucial for sustaining growth and development in the sector.
Lokpobiri also praised TotalEnergies for its long-standing partnership and reliability within Nigeria’s oil and gas industry, assuring that the government will continue to support the company in its endeavors.
Bonga North is a conventional oil development located in deepwater off the coast of Nigeria, operated by Shell Nigeria Exploration & Production in with NNPCL.
Discovered in 2005, the field is part of block OML 118 (formerly known as OPL 212P) and lies at a water depth of approximately 3,346 feet.
