In order to respond to the current global crisis, manage through the uncertainties and seize the identified opportunities, the Managing Director of Total E&P Nigeria Ltd, Mike Sangster has advocated for the development of Nigeria’s abundant resources before it is too late.
He made this remark at the management session of the hybrid 2020 Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists, NAPE at the Eko Hotel and Suites, Lagos. He was represented by the Deputy Managing Director, Deep Water District, Victor Bandele.
Mr Sangster in his keynote address gave areas of advancement for Nigeria in innovations, strategies and best practices.
On the country’s importance to the Total Group, the MD said, “Nigeria is crucial to the Total Group, accounting for around 10% of its equity production. Total has invested approximately $10 billion in the country from 2013 to date. We have also taken steps to drive down our greenhouse gas emissions; pursuing a zero-flare principle on all our new projects.”
The theme of the session was Future of Oil and Gas Industry in a Low Oil Price Environment: Survival Strategies.
In his remarks, the Managing Director, Shell Nigeria E & P Company, Bayo Ojulari stated: “That I know a lot has been said about the oil price but the global dynamics are very difficult to predict. The industry in Nigeria still remains a major driver of the economy but has been seriously challenged this year.”
Different survival strategies for Nigeria and the global environment were put forward by speakers at the session. The speakers were Chief Executive Officer, Waltersmith Petroman Oil Limited, Chikezie Nwosu; Chairman KPMG Africa, Kunle Elebute; Executive Director, Operations, Seplat Petroleum Development Company Plc., Effiong Okon; Director Sub-Saharan Africa Upstream Research, Wood Mackenzie, Gail Anderson and the Managing Director of Newcross E&P Nigeria Limited, Victor Sodje.
Earlier in his opening remarks, NAPE President, Alex Tarka said: “We are privileged to have such a rich panel bringing together valuable experiences and insights. The impact of low prices on the economy continues to emerge as countries attempt to jumpstart their economy and we are not left out.”
Other Total staff physically at the session were General Manager and TUCN Geosciences Metiers, Chris Enuma; Venture Coordinator, Emmanuel Egbele and Head, External Events, Sandra John-Owoferia while others joined online.