Mr Mike Sangster, Managing Director, Total E&P Nigeria Limited, on Wednesday said the International Oil Company (IOC) contributed $3.2 million (₦1.2 billion) in support of the Federal Government’s battle against COVID-19.
Sangster made the disclosure while speaking at the virtual August Technical Presentation of Nigeria Association of Petroleum Explorationists (NAPE).
The managing director, who was represented by Mr Olatunji Akinwunmi, General Manager, GSR (Deepwater), Total E&P, said Nigeria was crucial to the Total Group, accounting for around 10 per cent of its equity production.
” We are all aware of the raging COVID-19 pandemic which has held the world hostage for several months now.
“The adverse effect on lives and businesses, especially the oil and gas industry, cannot be overemphasised.
“Please permit me to touch on some of Total’s interventions in the fight against the COVID-19 pandemic.
“As a socially responsible company, Total rose to the clarion call of the federal government along with its partners, led by the Nigerian National Petroleum Corporation (NNPC), by contributing to a donation of ₦21 billion in support of the federal government’s COVID-19 efforts.
“Total’s contribution was $3.2 million (₦1.2 billion), ” he said.
According to him, the company also supported the Lagos State Government and its Rivers counterpart with critical supplies and medical equipment.
Sangster disclosed that Total Nigeria Plc , which operates downstream, also donated ₦50 million as part of a combined contribution from the Major Oil Marketers Association of Nigeria (MOMAN), under the auspices of the NNPC.
He said :”Total has also invested approximately $10 billion in the country in recent years.
“The company makes an annual expenditure of over $40 million on Corporate Social Responsibility in Nigeria; with remarkable investments in capacity development, employability, health, education as well as infrastructure.
“Last year, we inaugurated more than 14 legacy projects including mammography centres and maternal child referral centres.
” As we speak, arrangements are in top gear for the inauguration and handing over of newly completed projects to benefitting communities across the length and breadth of the country. “
The Total boss expressed concern about the depletion of Nigeria’s oil and gas reserves without proportionate exploration activities to ensure long term sustainability and replenishment.
According to him, a combination of factors which include uncertain fiscal and regulatory regimes, policies that make new investments unattractive and uncompetitive, and low oil prices are easily to blame for this development.
“Total as a key stakeholder in the Nigerian oil and gas industry is prepared to work with the government, partners, and other stakeholders, to address these bottlenecks to new exploration investments, ” he said.
Also, Mr Alex Tarka, President, NAPE, said the association would continue to work with Total and other stakeholders to increase exploration activities in the country toward boosting its oil and gas reserves.
