Lawmakers laud local content in Total’s $16bn Egina project
•FPSO to sail away in July
The House of Representatives Committees on Local Content, and Gas Resources, have commended the management of Total Upstream Nigeria Limited (TUPNI), on the level of content domestication in its $16billion investment on Egina Floating Production Storage and Offloading (FPSO) project in Nigeria.
The committees made the commendation during their visits to the facility located at the Lagos Deep Offshore Limited (LADOL) Free Trade Zone, Takwa Bay, Lagos, promising Federal Government’s continued support for local content initiative.
The Chairman, House Committee on Local Content, Emmanuel Ekon, said members came for a firsthand inspection of the facility, and to clarify issues that were raised on local content input in the Egina project.
Impressed with the local content integration, Ekon urged other International Oil Companies (IOCs), to emulate the oil firm, noting that since the law was signed, Egina was the first project to be embarked upon to demonstrate the effectiveness the content policy.
“For me, I am satisfied. For the first time in the history of Africa, integration is done here; I think that is a quantum leap. The policy of local content regime of this country is working, and we are moving forward. It is indeed very impressive that Total has kept faith in the Nigerian local content regime. I want to call on other IOCs operating in Nigeria to emulate Total. What we have seen here today gladdens our minds,” Ekon said.
Similarly, his Gas Resources counterpart, Agbedi Frederick, also commended the innovations and technologies brought into the petroleum industry by the mul6tinational oil company.
Agbedi assured that in next few months’ time, a law that would guarantee a friendly business environment and protection of investments would be passed, to create a peaceful working environment.
The Managing Director of Total, Nicolas Terraz, said the domestication of the FPSO integration activities in Nigeria is not only a milestone in terms of local content, but also a game changer for the execution of deepwater oil and gas projects in Nigeria.
He added that Total’s target is to achieve the sail away of the FPSO to its final location to the Egina offshore field at the end of July, assuring that the project would be delivered within the initial budget of $16billion so that the value for the country and for the partners is maximised.