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Total Demands Rewarding Investment Structure For Nigeria’s Oil Exploration

November 29, 2019

The firm made this stance when some of its top officials visited the country’s Minister of State for Petroleum Resources, Timipre Sylva.

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Total said it requires a rewarding investment structure in order for it to keep tapping Nigeria’s prolific petroleum potentials. 

The firm made this stance when some of its top officials visited the country’s Minister of State for Petroleum Resources, Timipre Sylva.

“We (TOTAL) will continue to invest more and it is imperative to have conversations that will ensure a rewarding investment structure,” the CEO of the French-based company, Patrick Pouiyanne, said. 

According to a statement by the media officer to Sylva, Garba Mohammed, Pouiyanne intends to reinvest proceeds made from its Egina field into more exploration work in the country.

“In a show of commitment, TOTAL is committed to reinvestments in the country from the proceeds of the Egina venture.

“Nigeria has a big potential that has not been fully explored and we (TOTAL) are ready to open discussions for new licenses.”

Sylva on his part promised the French oil firm that it would do everything to keep the company in Nigeria.

Topics
Oil