TotalEnergies EP Nigeria is intensifying efforts to maximise its oil production in the country, with plans to revitalise existing fields and accelerate new deepwater projects, Punch reports.
Speaking at the ongoing Nigerian Association of Petroleum Explorationists (NAPE) conference in Lagos, Victor Bandele, the company’s Deputy Managing Director for Deepwater Assets, described the company’s approach as driven by a “desperation” to unlock the full value of its Nigerian portfolio.
Bandele highlighted that the company’s priority is to optimise current operations, particularly the Egina field, which has the capacity to produce up to 200,000 barrels per day but is currently producing below capacity due to natural decline.
Don’t Miss This: Tanzania’s Post-Election Unrest Disrupts Kenya’s Cross-Border Trade
He said TotalEnergies is working on multiple tieback projects to boost output and ensure the efficient use of its existing Floating Production, Storage and Offloading (FPSO) vessel.
Beyond current operations, Bandele said the firm remains committed to exploration and new developments.
He revealed that TotalEnergies plans to drill new exploration wells around older fields like Akpo and is fast-tracking development of a newly acquired deepwater block expected to come on stream by 2026.
Tracing the company’s deepwater milestones, Bandele recalled the series of “first oils” achieved in Akpo (2009), Usan (2012), and Egina (2018), each involving major investments in FPSO technology.
He lamented the slowdown in Nigeria’s deepwater development since 2018, noting that countries like Brazil and Angola have continued to expand in the same sector.
He expressed optimism that the Petroleum Industry Act (PIA) has created a more favourable investment environment, with renewed activity among international oil companies, including Shell’s Bonga field.
Bandele also underscored the benefits of collaboration and shared services, citing past industry cooperation—such as the introduction of the Q7000 vessel in 2002—as a model for improving operational efficiency and reducing costs.
“The more activity we have across deepwater, shallow water, and onshore, the greater the efficiency and cost savings for everyone,” Bandele said, calling for stronger industry and regulatory partnerships to revitalise Nigeria’s deepwater sector.
