Total, NNPC, NCDMB set to decide on Ikike project
Although there is still work to be done on the Egina project, Total is already in talks with the Nigerian National Petroleum Corporation (NNPC), and Nigeria Content Development and Monitoring Board (NCDMB), on taking Final Investment Decision (FID), on another signature project, Ikike, before the year end.
The Managing Director, Total Exploration and Production Nigeria Limited, Nicolas Terraz, disclosed this at the just-concluded Nigeria International Petroleum Summit (NIPS), in Abuja.
His words: “Egina is not the only project Total is doing in Nigeria; we are working to increase production by collaborating with the Nigerian National Petroleum Corporation (NNPC) and Nigeria Content Development and Monitoring Board (NCDMB), on Ikike project, which is not a big as Egina though.
We are working very hard to launch it before the end of 2018. Ikike will bring 32,000 crude oil barrels per day, and a lot of gas in the region of 3.5million standard cubic feet.”
The Total Country Chair also hinted that work is continuing on the Egina project, saying: “we still have a bit of work to do on the project. Until the end of the year, we are going to be very busy doing all the connections and getting it ready for production.”
As the only International Oil Company (IOC) operating in the downstream of the Nigeria oil and gas sector, Terraz said the aim of Total is to provide clean and affordable energy solutions.
“As the only IOC that is present in both the upstream and downstream, and this is not by chance; our mission is to supply clean, reliable and affordable energy to Nigeria.
Today, Total has about 550 filling stations across the country. Total has been in the downstream longer than we are in the upstream. There are a lot of challenges confronting the downstream, but we believe that we will overcome those challenges going forward,” he said.
Terraz further revealed that the next step for Total is to provide solar energy for commercial locations, in addition to running 50 of its service stations across Nigeria on solar power.
He also lauded the NNPC for ensuring 100 per cent implementation of the joint venture (JV) agreement since it was negotiated in 2016.