Business & Economy

Lokpobiri Encourages Collaboration, Investment in Nigeria’s Oil and Gas Sector

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1 day ago

Mar 15, 2025.

Lokpobiri Encourages Collaboration, Investment in Nigeria's Oil and Gas Sector

Lokpobiri emphasizes the Federal Government commitment to increasing investment in Nigeria’s oil and gas sector to enhance the nation’s production levels.
During a one-day familiarization visit to TotalEnergies’ offshore fields Ofon and Egina, Lokpobiri engaged with company executives to discuss investment plans, ongoing projects, and challenges faced in capital expenditure and community relations.
Lokpobiri commended TotalEnergies for its exemplary role within the sector, highlighting the company’s contributions to Nigeria’s oil and gas industry.

Senator Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), emphasized the Federal Government’s commitment to increasing investment in Nigeria’s oil and gas sector to enhance the nation’s production levels.

Eko Hot Blog reports that Lokpobiri called upon stakeholders to work closely with the government to improve the sector and boost overall efficiency.

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During a one-day familiarization visit to TotalEnergies’ offshore fields Ofon and Egina, the Minister engaged with company executives to discuss investment plans, ongoing projects, and challenges faced in capital expenditure and community relations.

The visit aimed to strengthen collaboration between the government and the energy giant, setting a precedent for the government’s expectations of International Oil Companies (IOCs) operating in the country.

Lokpobiri commended TotalEnergies for its exemplary role within the sector, highlighting the company’s contributions to Nigeria’s oil and gas industry.

He said: “The Federal Government is very desirous to increase investment in the oil and gas sector to boost its production level.

“So, I must commend TotalEnegies for being a shining example of what the Federal Government expects from IOCs.

“So let us work together and see how we can improve the sector and continue to do what we can to support your company for our mutual benefit.”

The Minister, however, noted that the government is not unmindful of the problems of the IOCs.

“Let’s have a meeting, see where the problems are and arrive at a win-win situation.

“We are not trying to give problems to anybody, it’s going to be a win-win approach because the government is not unreasonable to people’s problems.”

Lokpobiri Encourages Collaboration, Investment in Nigeria's Oil and Gas Sector

In response to the Lokpobiri’s call for increased collaboration, Managing Director Matthieu Bouyer affirmed TotalEnergies’ readiness to partner with the Federal Government in achieving its objectives of boosting production levels.

The company plans to implement various new projects tied back to existing fields, which not only increase production but also generate more revenue for the government.

These strategic tie-back projects, which connect new oil and gas fields to existing production facilities, will capitalize on the infrastructure already in place to maximize output and optimize resources.

Some of these initiatives include the Akpo West and Ikike fields, which are connected to the Akpo Floating Production Storage and Offloading (FPSO) facility and Amenam offshore facilities, respectively.

By pursuing such projects, TotalEnergies aims to contribute significantly to Nigeria’s oil and gas sector, reinforcing the company’s position as a major player in the region.