Success Nwogu 
The Managing Director/Chief Executive Officer, TotalEnergies E&P Nigeria Limited, Mr Matthieu Bouyer, has said that the company is not leaving Nigeria.
He emphasized that TotalEnergies is in Nigeria for the long term, adding that it will continue to align with efforts by the government and other stakeholders for the sustainable development of the country.
He spoke at the 42nd annual international conference and exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) with the theme: “Evolving landscape of the Nigerian Energy Sector- challenges and opportunities.”
He also expressed the demonstration of TotalEnergies Long-term commitment to Nigeria.
He said: “Over the past decade, TotalEnergies has been the largest private energy investor in the country, developing major projects such as Egina, Ofon Phase 2, the OML 58 Upgrade, and recently Ikike, which started in 2022.
“The long-term commitment of the company to Nigeria is also demonstrated by the continued exploration, evidenced by the Ntokon discovery in June 2023.
“TotalEnergies is seeing positive signals in the industry with recent FG actions such as the Executive Orders, Fiscal Incentives, and Ease of Doing Business. One immediate result is the Ubeta Project recently sanctioned by TotalEnergies and partners.
“We align with FG strategy for the energy industry. That’s why we are participating in the bid round by NUPRC. Furthermore, we have a portfolio of pending projects which we will leverage the encouraging operational framework to launch in future.”
He added: “As we march towards our net-zero carbon target of 2050 for TotalEnergies and 2060 for Nigeria, our projects align with the TotalEnergies strategy of providing more energy to the world with less emissions. The achievement of zero routine flare in all our upstream operations in Nigeria as well as the AUSEA methane detection technology which we now share with the NNPC Limited, demonstrates this unwavering commitment.
“Other initiatives to reduce CO2 emissions to the barest minimum includes:Power supply from the existing OBITE treatment center and a future 5MW solar energy mix. Zero routine flaring in all our upstream operations in Nigeria and Rig electrification to reduce liquid fuel consumption.”
Bouyer stated that Nigeria is responding to the need for competitiveness with progressive changes in the Nigerian energy landscape in recent years.
He highlighted the changes to include enactment of Petroleum Industry Act in 2021 which provides better clarity on fiscal terms and stabilization; grants operational and financial autonomy to the NNPCL (upstream and downstream and encourages faster development of discoveries.
He added that PIA provides for the deregulation of the downstream sector for enhanced value and competition.
He also said there have been recent Presidential initiatives which provided additional fiscal incentives for gas development; shortened and streamlined the contractual process and confronted oil thefts and other forms of sabotage.
Bouyer identified the following areas as requiring additional efforts: More attractive entry cost and conditions for exploration in new blocks; provision of market reflective signature bonus and consideration of introducing “drill or drop” window in exploration phase.
He added that access to expired deepwater blocks and facilitation of entry into unexplored and expired deep water blocks through strategic partnership with the industry were necessary.
Bouyer said Government / Nigerian National Petroleum Company Limited (NNPC Ltd) should confirm back-in terms prior to licensing round and lease award and that back-in right should be cash-funded and reduced to a minimum strategic holding.
