IOC’s are ready to contribute to PIB – Total MD

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OilandPower South-Sudan  2020

The Society of Petroleum Engineers, SPE, Nigeria Council created a focal point for stakeholders at the Nigeria Energy Industry Transformation Summit, NEITS. The first day of the virtual summit saw regulators and industry players beaming a spotlight on Cleaner energy, Gas, and the Petroleum Industry Bill, PIB as the industry saver.
In his sponsor’s remark at the summit, the Managing Director of Total Upstream Companies in Nigeria, Mike Sangster declared Total’s willingness to continue to invest in Nigeria and to contribute constructively to the ongoing debate about the Petroleum Industry Bill. It was a 3-day summit with its theme as “Changing Global Energy Landscape: Strategy for Industry Sustainability.”

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“We welcome the efforts being made by the authorities to define a long-term framework for the Oil and Gas Industry that provides clarity and certainty, but it must also provide attractive terms and a win/win solution for the country and investors in order to entice sufficient capital in an ever more competitive world. A progressive, win/win, PIB could be the catalyst needed for a new wave of investments in Nigeria instead of other countries and hence contribute to the sustainability of the Oil and Gas Industry”, Sangster said.

Total’s MD further stated: “Total is strongly positioning for sustainability. We wish to apply this approach in Nigeria as well with a focus on gas and low-cost oil.”

On emission and gas flare down, Sangster said: “Even before this period of heightened concerns about the post COVID-19 era, firms and countries eager to reduce their carbon footprints had been out with strategies and an evolving energy mix in the shift towards cleaner energy. The challenge for companies like Total is to strike the right balance between enabling the energy transition by investing in new energies such as solar and wind power and continuing to provide oil and gas to meet the needs of our customers and society.

“Total wants to be part of the solution to climate change with a commitment to delivering affordable and clean energy to the population. We have made important investments locally in this area and implemented several initiatives that are already impacting the Nigerian energy landscape positively”, he said

Earlier in his opening address, the Minister of State for Petroleum Resources, Timipre Sylva said: “This year’s theme is quite pertinent to the contemporary issues affecting the industry. With the pandemic, encouragement of local industry participation is now an element of national strategy and sustainability. The proposed PIB will further encourage participation of Nigerians in various oil and gas activities.”

Also speaking at the opening ceremony, the NNPC Group Managing Director, Mele Kyari, remarked: “What COVID-19 has thrown unto us is to think of sustainability of this business. For us, deepening gas penetration is the key. Gas is the transition energy of the future. We are a gas country with huge resources; 200 million Tcf of gas is completely unutilized. Producing almost just about 8 million Scf/d of gas is completely out of line of the reality we can achieve. This should not only be the year of gas but the decade of gas. The key thing for us as a country is to focus on gas as we transit into the future.”

Director, Department of Petroleum Resources, Sarki Auwalu and 2020 SPE International President, Shauna Noonan joined other industry stakeholders to give their remarks at the summit.
Chairman SPE Nigeria Council, Joe Nwakwe explained to participants that the NEITS was held in place of the Nigeria Annual International Conference and Exhibition, NAICE 2020 in response to the coronavirus pandemic which made gathering in the usual manner untenable.

The Vice Council Chairman of the Association and Total’s Executive General Manager, Deep Water GSR and Planning, Olatunji Akinwunmi is expected to take over the leadership of the Society in the coming days.

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