Mr. Victor Bandele, Deputy Managing Director, TotalEnergies
…Industry stakeholders to support drive for progress and growth of oil and gas industry in Nigeria.
…TotalEnergies has desperation to develop assets as Egina FPSO produces 200,000 barrels per day with more exploration opportunities.
-Felix Douglas
Responding to deep water and other projects in the oil and gas industry in Nigeria, at the Management Session of the Nigerian Association of Petroleum Explorationists (NAPE) Annual Conference in Lagos, Deputy Managing Director (DMD), DeepWater of TotalEnergies, Victor Bandele, pointed out that the International Oil Company (IOC) has done a lot in improving Nigeria’s oil production.
According to Bandele, TotalEnergies took Final Investment Decision (FID) for Akpo in 2003 and delivered the project after its first oil in 2009.
For Usan, TotalEnergies got first oil in 2012. The company attained first oil on Egina in 2018. These are some of the series of first oil on deep water with each having its dedicated Floating Production, Storage and Offloading (FPSO).
The TotalEnergies DMD stated that there are lots of other capital investments.
TotalEnergies operational efficiency was increasing with each FPSO that it went through because there are significant amount of synergies that it is able to do with two FPSO running simultaneously. The company has been able to increase professional efficiency to synergize. This is the drive.
He added that other countries that are involved in deep water operations in Angola and Gulf of Guinea; their activities are not as cumbersome like FPSO.
This is the trend that Nigeria should sustain because deep water is major aspect of growth for the country. Unfortunately, after Egina investment there is no other new FPSO hence this is the problem that could have been solved with the Petroleum Industry Act (PIA).
He said there is a lot of activity in the industry like Bonga with other partners and government needs to open the space.
“There has been improvement in operational efficiency with significant several projects launched in deep water activities.” Bandele revealed that in the last two years, TotalEnergies have been drilling on Akpo and Egina, as the only operator in deep water operations in Nigeria.
If there are ongoing operations in deep water, there will be synergy among operators and the IOCs that are in forefront will benefit.
This is the focus. Since there are more projects in the industry, they will naturally improve the share size and operational efficiencies.
The TotalEnegies DMD urged other partners to support the drive for progress of the oil and gas industry.
TotalEnergies has desperation to ensure the development of all assets. Starting from the existing assets of Egina FPSO that is capable of producing 200,000 barrels per day, the company is working assiduously towards it. It is still drilling for more exploration opportunities.
“We have planned with our partners to drill exploration next year. I’m emphatic about it because we have explorationists.” If there are lots of activities going on in deep and shallow waters with offshore space, the amount of operational efficiency is significant.
“We need to support ourselves and there should be sharing and collaboration, but you will only share what you have. Let’s have a lot so that we can share a lot.”
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