TotalEnergies EP Nigeria Limited will in five years, will be ramping up the rate at which it is currently producing oil and gas.
Victor Bandele, the Deputy Managing Director of TotalEnergies, disclosed on Monday that the plan will happen throughout the world where the company operates.
He spoke at the opening session of Nigerian Oil and Gas Conference, NOG 2022, in Abuja,where he also noted that his company holds vital position in Nigeria’s economic life, and is wholly responsible for the production and distribution of over 20% of the energy that is consumed in the whole of country.
He said,while fossil fuel production will be boosted by the company, it will still continue to diversify its business into the development of more renewable energy.
He added that energy diversification from fossil to cleaner fuels will provide more business opportunities, while also benefitting the natural environment.
He said that the diversification drive will continue and, by 2050, 50% of all the energy developed by Total Energies will come from gas, with 35% coming from oil, while the remaining 15% will be based on electricity.
In his remarks, the Executive Secretary, Nigerian Content Development Monitoring Board (NCDMB),Engineer Simbi Wabote, said this year’s Nigerian content seminar will focus on the seventh ministerial regulations officially gazetted by the federal government last year.
He said the regulation provides for the minimum standards, facilities, personnel and technology for trading in the oil and gas industry.
