business
Senate commends TOTAL’s $16bn investment in Nigeria
MR Solomon Adeola, the Chairman Senate Ad hoc Committee on Local Content, has commended the management of Total Upstream Nigeria Limited (TUPNI) on its 16 billion dollars (N5.76 trillion) Egina project in Nigeria.
Adeola, who gave the commendation during the committee’s oversight function in Lagos on Friday, promised total support for the local content development initiative.
The committee inspected the 3.3 billion dollars Floating Production Storage Offloading (FPSO) vessel.
The storage facility is for 200,000 barrels per day Egina deep-water oilfield, which is expected from South Korea on Jan. 23.
Adeola said the essence of the visit was to see and have first-hand information on the Egina FPSO and to also commend Total for making the huge investment a reality.
According to him, the 330-metre long Egina FPSO, the largest FPSO ever installed in Nigeria, by private investors and the Nigerian government was commendable.
“If Nigeria can attract such huge project estimated at 16.3 billion dollars, it shows we are moving in the right direction and growing our economy,” he said.
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