Deputy Managing Director, Deep Water District, TOTAL, Mr. Ahmadu-Kida Musa, has promised a 200, 000 barrel per day increase to Nigeria’s oil output.
Musa disclosed this at the National Association of Energy Correspondents’ Conference in Lagos yesterday.
He said the projection by Total E&P Nigeria Limited would be realised in the fourth quarter of this year.
He stressed tha the theme of the conference: “Petroleum Industry Governance Bill: Emerging issues and concerns,” was germane at a time that the Nigerian oil and gas industry was undergoing reforms.
The deputy-managing director said TOTAL upstream branch had played a significant economic and social role in Nigeria, driving nearly 15 per cent of the country’s oil production.
Musa expressed confidence that despite the different challenges that the country was facing, the company remains committed to investing in Nigeria.
He said the plans are expected to have far-reaching impact in the way businesses in the sector were conducted.
He explained: “Our Egina Deep water development project, which is nearing completion, will add the 200,000 barrels of oil per day to Nigeria’s production.”
Musa assured of the oil company’s determination to intensify efforts in exploration and appraisal activities.
He added: “Our plan is to maintain aggressive exploration and appraisal wells-drilling to play a part in increasing the hydrocarbon resource base of the nation.”
Meanwhile, the Nigerian National Petroleum Corporation (NNPC) has called for the sensitisation of the populace on the Petroleum Industry Governance Bill, which is currently on the desk of President Muhammadu Buhari.
The Group Managing Director, NNPC, Dr. Maikanti Baru, stated this in his keynote address at the conference.
He said there is the need to sensitise the general public on the bill, adding that: “If not, it would go the same way other bills had gone, and also not having any effect in the sector.”
The General Manager, National Petroleum Investment Management Service, Roland Ewubare, represented him.
Baru said the country currently does not need the creation of more companies, but to provide solutions to the current menace in the sector.