MD presents Group’s business portfolio to Energy Economists April 29, 2008
The Managing Director/Chief Executive, Elf Petroleum Nigeria Limited (EPNL), Mr. Jacques Marraud des Grottes on Tuesday, 29-Apr-2008 presented the Total Group’s Business Portfolio to the First Annual Nigerian Association for Energy Economics (NAEE)/International Association for Energy Economics (IAEE) in Abuja and concluded that the Group was committed to doing business in Nigeria.
Mr. des Grottes, represented by EPNL’s Executive Director, Strategy/Business/Non-Operated Assets, Mr. Charles Ngoka said Africa was the largest production region for the Total Group, which is the world’s fourth largest publicly-traded integrated oil and gas company with operations in more than 130 countries.
He told the Energy Economists at the two-day conference held at the Transcorp Hilton Hotel that although the Group began oil exploration in Gabon in 1932, it was not until 30 years later that the company started operations in Nigeria, Africa’s top oil producer.
The Managing Director (MD) said the company was experiencing phenomenal growth in its business portfolio in Nigeria, citing its recent deep and ultra-deep offshore acceleration as proof.
He also announced that the company has designed a Gas Utilization Programme in response to the Federal Government’s directive on ending Associated Gas flaring and to also generate electricity through Independent Power Project (IPP) in Obite (OML 58) and the National Integrated Power Project (NIPP) in Omoku.
The company also plans to ramp up its gas export capacity from 10.6 Msm3/d to 15.6 Msm3/d, he added.
Through the IPP, he explained, the company planned to generate as much as 440MW of electricity to be fed into the Nigerian national grid.
For effective development of gas in Nigeria, the MD said the Nigerian government must come up with proactive legislation to encourage gas rights in Production Sharing Contract (PSC) as well as create the right business environment – commercially robust business models supported by law” and also address security concerns.
According to him, the government should also create a business environment that would “enable companies and joint ventures to attract capital independently and with support from government.”
On the company’s Community Development Partnerships, the MD said the company’s new strategy involved partnering with Non Governmental Organizations (NGOs), communities, various tiers of government and the Niger Delta Development Commission (NDDC) to support educational initiatives, skills acquisition, infrastructure development, healthcare delivery as well as support for small and medium scale enterprises among others.
He cited the example of Egi Community in the company’s OML 58 in Rivers State where 40,000 people currently enjoy constant power supply 24/7 thanks to the power plant built by EPNL as part of Corporate Social Responsibility (CSR) initiatives.
Immediately after Mr Ngoka’s presentation, the Energy Economists were treated to a cocktail sponsored by Total.