Nicolas Terraz, the managing director of Total E&P Nigeria, talks to TOGY about developments in the company’s projects in the country, the role of natural gas in the market and the outlook for the industry.
On growth areas he said: “For Total the new opportunities will be mainly around our offshore and gas operations.”
On upstream he noted: “As production gives the revenues of today, some may put more focus on production. But you have to keep in mind that oil and gas is a long-term industry where you have to prepare the future. So, strong exploration is of course, a priority.”
On outlook he said: “Let’s stay prudent. Volatility is still high and it is our responsibility to continue to build on operational excellence, to control our costs, maximise the utilisation of our assets and deliver the projects.”
On natural gas he said: “In Nigeria, 40% of our production is gas and growing our gas business throughout the value chain is one of our priorities. Over the past two years, we signed, together with our joint venture partner NNPC, three major long-term contracts to supply the domestic gas market.”