TotalEnergies Seeks More Oil, Gas Production in Nigeria

By Obafemi Oredein

Special to Dow Jones Newswires

IBADAN, Nigeria--TotalEnergies is looking extensively at more deepwater production and gas production opportunities in Nigeria and is ready to invest $6 billion in the coming years, Patrick Pouyanne, group chairman and CEO, said Monday.

"Everything is here. We just need to conclude with the tweaks and changes necessary to unlock the outstanding potential in both oil and gas," said Pouyanne.

The company holds interest in about 30 oil-mining leases in Nigeria, and it operates onshore and offshore. It is also a shareholder in Nigeria's liquefied natural gas plant.

Pouyanne said Nigeria was "very important" for TotalEnergies, accounting for 8% to 10% of the company's worldwide total production and over 18% of its global investment.

(END) Dow Jones Newswires

December 18, 2023 15:23 ET (20:23 GMT)

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