‘To­tal in­vested $5bn in Nige­ria in 5years’

Daily Trust - - BUSINESS - From Mo­hammed Shosanya, La­gos

The Man­ag­ing Direc­tor of To­tal Ex­plo­ration and Pro­duc­tion Nige­ria Lim­ited, Mr Nicolas Ter­raz, has said that his com­pany has in­vested $5 bil­lion in Nige­ria in the last five years, de­spite the chal­leng­ing busi­ness en­vi­ron­ment in the coun­try caused by the fall in oil prices.

Ter­raz, who dis­closed this when mem­bers of the House of Rep­re­sen­ta­tives Committee on Lo­cal Con­tent paid a cour­tesy visit to his of­fice in La­gos, weekend, also ex­plained To­tal’s ac­tiv­i­ties in Nige­ria and the huge bou­quet of projects con­tribut­ing to the so­cioe­co­nomic de­vel­op­ment of the coun­try.

He shed some light on the progress the com­pany has made on its ma­jor projects such as the OML 58 Up­grade, Ofon Phase 2 and Egina.

Ter­raz said that his com­pany would com­mence de­liv­ery of gas through its North­ern Op­tion Pipe­line (NOPL) to Alaoji power plant this month to im­prove elec­tric­ity sup­ply to Nige­ri­ans.

The Deputy Man­ag­ing Direc­tor, Deep Water Dis­trict of To­tal, Mr Ah­maduKida Musa, ex­pressed the com­pany’s com­mit­ment to the de­vel­op­ment of lo­cal con­tent and the coun­try.

“As at the time we ap­proved the Egina Project, all the other oil com­pa­nies were run­ning from Nige­ria,” Musa said.

“When we took the bold step, oth­ers were ask­ing what we were see­ing that they were not see­ing and, for To­tal, it was our ab­so­lute be­lief in Nige­ria and Nige­ri­ans’ abil­ity to man­age the project. After three years, we are ex­cep­tion­ally proud of the project.”

Speak­ing, the chair­man of the committee, Em­manuel Ekon, said that the jour­ney to To­tal was a “friendly visit and not an over­sight.”

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