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NNPC, TotalEnergies sign investment decision on Ubeta field

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The milestone, according to NNPC Ltd, is in line with President Bola Tinubu’s presidential executive order on oil and gas reforms

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Speaking at the signing event, the Group Chief Executive Officer of NNPC Ltd, Mele Kyari, said the continuous support of President Bola Tinubu’s administration in facilitating a conducive operational environment as a major enabler in achieving this success.PREMIUM TIMES delivers fact-based journalism for Nigerians, by Nigerians — and our community of supporters, the readers who donate, make our work possible.

Also speaking, the Senior Vice President Africa, Exploration & Production, TotalEnergies, Mike Sangster, said the project is part of the company’s strategy to ensure more sustainable energy and less emissions in line with the global energy transition drive. The Minister of State for Petroleum Resources , Ekperikpe Ekpo said the project is a testament to the effectiveness of government’s policies aimed at creating a conducive environment for investment in the gas sector.

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Sources: NNPC, TotalEnergies to finalise $550m investment on Ubeta project this weekNNPC Limited and TotalEnergies are set to announce the final investment decision on the Ubeta Field Development Project, TheCable understands
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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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NNPCL-TotalEnergies announces $550m investment on Ubeta projectThe 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.
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