TotalEnergies Nigeria targets 50% gas production by 2030

Joy Obakeye

TotalEnergies Nigeria says it expects to have boosted its gas production to about 50 percent by 2030. Mr Mike Sangster, the companies Managing Director said at the 10th Practical Nigerian Content, organised by the Nigerian Content Development and Monitoring Board (NCDMB) in Bayelsa State.

Mr Sangster, who was represented by the Deputy Managing Director, TotalEnergies Deep-water, Mr Victor Bandele, also noted that it also targets 35 percent oil production; and 15 percent electricity production, remaining relevant in the energy mix in the next five to ten years.

He clarified that the company had been able to reduce gas flaring significantly in its operations.

He explained that the PIA has paid greater attention to gas and it is a transition fuel for Nigeria and very critical to the government’s drive to industrialise the nation.

Sangster explained that TotalEnergies worldwide was becoming a multi-energy company, stating that the company’s energy mix will change significantly in the coming years.

“Currently, our production is about 55 per cent oil, 40 per cent gas, and five per cent electricity. But by 2030, it will be 50 per cent gas; 35 per cent oil; and 15 per cent electricity.”

He stressed that TotalEnergies is committed to the global energy transition and achieving carbon neutrality in its operations by 2050.

“By 2050, the mix is targeted to be 40 per cent renewable power, 40 per cent gas (primarily carbon-free) and 20 per cent liquid products. Our target is to get to Net Zero in all our operations worldwide by 2050.

“We are committed to this target and working with all our stakeholders, we believe we can deliver cleaner, more affordable, and more available energy to as many people as possible.”

He noted that oil and gas would remain relevant in the energy mix in the next five to 10 years hence there was q need to optimise Nigeria’s abundant oil and gas resources.

Sangster said TotalEnergies was in support of the plan to expand domestic gas utilisation, adding that the company had been able to reduce gas flaring significantly in its operations.

He, however, commended President Muhammadu Buhari for signing the PIA into law.

Speaking earlier, the Minister of State for Petroleum Resources, Timipre Sylva, said that the federal government expects that with the PIA now in place and supported by the enabling structures to ease doing business, new Final Investment Decisions (FIDs) should begin to happen rapidly in the Nigerian oil and gas industry.

According to the minister, “The great accomplishments of the Board as well as the activities of other key agencies under the Ministry of Petroleum Resources have positioned our Ministry as a top performer in the Presidential Scorecard, assessed by the Office of the Secretary to the Government of the Federation”.

He noted that the NCDMB, to remain focused on the implementation of Nigerian Content 10-Year Strategic Roadmap to grow Nigerian Content to the targeted level of 70% by 2027.