Continental Focus, International Reach

Total to Greenlight Ikike Project in Nigeria

Wednesday, January 23, 2019

Total’s CEO, Patrick Pouyanne, revealed that the French firm would approve plans to move forward with the Ikike project in Nigeria in H1. The Ikike project would add around 60,000 bpd to Nigeria’s totals and is just one of several projects Total plans to take the FID on in Nigeria.

“There is a huge potential in Nigeria, it is probably the most prolific country in west Africa in terms of oil and gas and it is time to launch new projects and we are working on many of them,” Pouyanne told journalists.

The company could also take a FID on the deepwater Preowi project which would add another 70,000 bpd to Total’s production totals in the West African country.

“On the same area as Egina, we have Preowei, which could be connected to Egina. We are working on that,” Pouyanne said.

Pouyanne also revealed that it planned to expand its Nigerian LNG project this year. “The market is very good today to do that, it is a very interesting project and the partners are in line to develop it… 2019 should be the year of expanding Nigeria LNG,” he added.

He further called on the Nigerian government to issue new exploration licenses, saying the country’s oil and gas sector had been dormant in recent years in terms of exploration and new projects.

“I hope the new government that will come after the election will launch new tenders for awarding new exploration licenses,” he said. The last licensing round took place in 2011.

Nigerians vote on February 16 in a presidential election with incumbent President Muhammadu Buhari seeking a second term.