Total E&P Invests $10 billion in Nigeria

French oil giant, Total Exploration and Production Nigeria (TEPN) said it has invested $10 billion in Nigeria since it began oil business operations in the country more than 50 years ago.

Managing director of Total E&P, Nicholas Terraz has also assured that the oil company would continue to work towards enhancing development in its tens of host communities around the country.

Terraz, who was speaking in Port Harcourt, Rivers State, while on a courtesy visit to Governor Nyesom Wike at Government House, said, approximately $10 billion has already been invested in the country by Total E&P, and the company was willing to spend more, as it increases its investments portfolio.

With 10 percent share of Nigeria’s oil production, and operating in parts of the country, but with largest footprint in Rivers State, Total E&P Nigeria is the nation’s fourth largest oil and gas producer.

Meanwhile Governor Wike has assured business concerns in the state that his administration would continue to create a secure environment for their operations, leading to the development of the state.

“We are committed to protecting lives and property across the state. We are building a friendly environment for investors to come and invest in the state,” the governor said.

He said the state government is supporting the Police and the Department of State Security (DSS) to tackle the current cult-related violence in some communities in the state.

He however, said, it was uncharitable for a political party to play politics with the security situation in the state by claiming that victims of cult-related violence were its members, simply because they want to gain political mileage.
Speaking at the Government House, Port Harcourt when he received the new managing director of Total E& P Nigeria Limited, Terraz Governor Wike said: “We are doing everything in partnership with the security agencies to resolve the cult-related security challenges currently rocking some communities in the state.

“Kidnapping is a national issue, but the reportage on the situation in Rivers State is over-blown. What we have in Rivers State is cult-related violence, which the government and security agencies are resolving,” Governor Wike stated.

 

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