The Group Managing Director, Nigeria National Petroleum Corporation (NNPC), Maikanti Baru, has commended Total Group for delivering Egina Floating Production Storage and Offloading (FPSO) vessel below the budget of $14.9 billion, as against the $16 billion budget forecast.
The NNPC helmsman stated that Total was the only integrated company operating in Nigeria that ensured that more than 75 per cent Nigerian Content footprint was registered in the project from inception to completion.
He gave this commendation, while receiving the Chairman and Group Chief Executive Officer, Total Group, Patrick Jean Pouyanné and other top management of the Group, in Abuja.
Baru, was quoted to have said this in a statement by the corporation’s Group General Manager, Group Public Affairs Division NNPC, Abuja Ndu Nghamadu.
According to Baru, “We also congratulate you on the efficiency you brought to bear on that project as it was delivered below budget and with very high Nigerian Content.
“The integration yard of Egina FPSO is there to stay and many other FPSOs will be constructed from that yard.”
The GMD commended Total Group for the support extended to the Nigeria Liquefied Natural Gas (NLNG) project, stressing that it would further bolster the development of other fields that would lead to the takeoff of NLNG Train 7.
The NNPC boss, applauded Total Group for its proposal on a renewable energy solution joint venture between NNPC and the Group, adding that the corporation would expeditiously set up a team to work with Total Group with a view to boosting the electricity supply in-country.
On the downstream, Baru praised Total Group for the collaboration with the corporation in ensuring steady supply and distribution of petroleum products across the country.
“We want to thank you and your leadership for your pragmatic approach to resolving all issues as it relates to Joint Ventures and Production Sharing Contracts.
“This strategy has further strengthened our business relations and deepen our commitment to our goals of adding value to the nation’s hydrocarbon resources for the benefit of Nigerians and other relevant stakeholders,” Baru posited.
Earlier, Pouyanné, said Nigeria was very important to the Total Group, reiterating that the Egina FPSO was delivered below budget with a lot of Nigerian content.
He reassured that Total would continue to invest in more deep water projects in Nigeria and described the NLNG project as a very important asset that his company was deeply committed to “Nigeria has the largest potential for oil and gas exploration in Africa. Total Group is looking ahead into the future and we would continue to collaborate with Nigeria and NNPC in Oil and Gas Exploration, NLNG and Renewable energy,” Pouyanné added.