Home Business No going back on unlocking dormant oil fields
Business

No going back on unlocking dormant oil fields

Share
Share


From Femi Folaranmi, Yenagoa

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has declared that Nigeria’s quest to unlock dormant oil fields is not optional.

According to him, the Federal Government of Nigeria is committed to unlocking inactive and untapped energy assets as a cornerstone of its strategy to boost national production.

Lokpobiri, who stated this during a visit to TotalEnergies’ Headquarters in Paris and their Research Institute in Pau, said unlocking the dormant oil fields is vital to Nigeria’s energy security and economic growth.

A statement by Nneamaka Okafor, Special Adviser, Media and Communication to the Minister, noted that the Minister’s visit, conducted at the invitation of TotalEnergies, formed part of a broader engagement with operators and policymakers.

She explained that it comes as TotalEnergies prepares to unlock several assets, including blocks awarded in the most recent bid round, as well as previously held fields.

Speaking with his hosts, Senator Lokpobiri was quoted as emphasising that President Tinubu has issued an unequivocal directive for all industry players.

“Mr President has made it explicit; operators must reactivate dormant assets. We are driving this mission with every dedication required, and I am glad to see TotalEnergies taking the bold steps to unlock their inactive and untapped assets,” he said.

During the Pau visit, Lokpobiri was briefed on the institute’s Smart Room and support centre, where state-of-the-art exploration and monitoring technologies were demonstrated. Later, at TotalEnergies’ Paris headquarters, discussions focused on regulatory frameworks and operational support aimed at easing the company’s unlocking of selected assets.

Nicolas Terraz, Group President E&P, TotalEnergies, in his remarks, disclosed that the company is keen on restarting production.

“We welcome Nigeria’s firm regulatory backing. Our commitment is to deploy our technical expertise and capital to restart production in these strategic assets. Our engagement today highlights a shared determination: boosting energy output for mutual benefit,” Terraz said.

“The Federal Government remains resolute in ensuring that operators like TotalEnergies receive all necessary policy, financial, and technical facilitation. The revitalisation of inactive assets is central to Nigeria’s energy agenda, promoting job creation, strengthening revenue, and securing energy sovereignty.”



Source link

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

How new tax laws will affect Nigerians

•Experts offer advisory on implementation •Say it will favour small business owners...

NIWA seeks increased investments to unlock economic

From Aniekan Aniekan, Calabar The Area Manager of the Nigeria Inland Water...

NELFUND disburses tuition, upkeep loans to over 396,000 students

By Merit Ibe The Nigerian Education Loan Fund (NELFUND), has disbursed tuition...

As MPC meets, all eyes on committee to sustain

By Mustafa Biodun The Central Bank of Nigeria (CBN)-led Monetary Policy Committee...