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NNPCL-TotalEnergies announces $550m investment on Ubeta project

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NNPCL News

Totalenergies

The Nigeria National Petroleum Company Limited, NNPCL, and TotalEnergies Joint Venture have officially announced a $550 million Final Investment Decision (FID) on the Ubeta Field Development Project to boost Nigeria’s oil and gas production. The spokesperson of NNPCL, Olufemi Soneye, disclosed this in a statement on Thursday.

The Nigeria National Petroleum Company Limited, NNPCL, and TotalEnergies Joint Venture have officially announced a $550 million Final Investment Decision on the Ubeta Field Development Project to boost Nigeria’s oil and gas production. The spokesperson of NNPCL, Olufemi Soneye, disclosed this in a statement on Thursday.

The Presidential Executive Order is instrumental to us getting to this significant milestone, and we are now seeing the impact of the policy,” Kyari added. In his remarks, TotalEnergies’ Senior Vice President of Africa, Exploration and Production, Mike Sangster, said: 'Ubeta is the latest in a series of projects developed by TotalEnergies in Nigeria, most recently, Ikike and Akpo West.

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JUST IN: NNPC, TotalEnergies sign $550m investment deal on Ubeta projectThe Nigerian National Petroleum Company (NNPC) Limited has signed a memorandum of understanding (MoU) with TotalEnergies to final investment decision (FID) on the Ubeta Field Development Project.
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