Oil major, Total has said, its Ikike oil field in the conventional offshore will come on stream by first quarter of 2022. The field development will enhance the country’s oil production between 30,000 to 40,000 barrels of crude oil a day.
This development is coming following commencement of the company’s name change to TotalEnergies in Nigeria. The company said, it is changing focus towards gas production in line with its transformation initiative leaning towards cleaner energy.
Emphasis will be along gas development as it targets low carbon emissions, electricity, solar, hydrogen and biomass.
The deputy managing director, Deep Water operations, TotalEnergies, Victor Bamidele, said the company will be engaging with the Petroleum Industry Act(PIA) implementation committee, to ensure it align with its new strategies which lay huge emphasis on energy mix.
Bamidele said the company is considering major investments in the country especially now that the PIA is in place, adding that the company has invested over $10 billion in oil and gas production in the last few years a chunk which was deployed to growing its assets in the country.
Bamidele said TotalEnergies remained committed to enhancing economic growth of Nigeria and was the only company growing its assets while others waited for the enactment of the PIA
“We produce 600,000 barrels of oil daily from both our onshore, conventional offshore and deepwater assets. By the first quarter of 2022 our Ikike field in the conventional offshore will come on stream adding between 30,000 to 40,000 barrels of crude oil a day,” he said.
Also speaking, executive director, corporate affairs and services, Abiodun Afolabi, commended the legislature and executive arm of the government for considering some of the submission by major stakeholders to the PIB.