July 23, 2024

NUPRC partners TotalEnergies on deep offshore development

Adebayo Obajemu

The ongoing drive to advance Efforts the country’s deep offshore exploration and production was the focal point of discussion at an engagement between the management of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, and TotalEnergies in Abuja.

During the meeting, other vital issues germane to the growth and development of oil and gas industry in Nigeria were also discussed.

Among these are the need to incentivise deep drilling endeavors necessitated by substantial financial commitments for field development in the deep offshore, the forthcoming bid round slated to be unveiled at an appropriate time, and the imperative of meeting domestic crude oil supply obligations, DCOSO.

The Chief Executive Officer of NUPRC, Engr Gbenga Komolafe, while welcoming the TotalEnergies team, was emphatic on the commission’s determination to drive stability and inflow of investment into the Nigerian Oil and Gas sector.

During the meeting, attention was also directed toward addressing the financial aspects of decommissioning and abandonment activities, crucial for ensuring sustainable practices in the sector.

The Managing Director of TotalEnergies, Mr Mathieu Bouyer, described his visit to the NUPRC as strategic as it underscores his company’s commitment to collaborative partnerships towards fostering a thriving energy landscape in Nigeria.