French energy major TotalEnergies has expressed keen interest in participating in Nigeria’s upcoming 2025 oil and gas licensing round, scheduled to commence December 1, following its successful acquisition of two blocks in last year’s mini-bid round.
Nicolas Terraz, President of TotalEnergies Exploration and Production, conveyed the company’s intentions during a high-level meeting in Abuja with Gbenga Komolafe, Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Terraz was accompanied by Mathieu Bouyer, Managing Director and CEO of TotalEnergies Upstream Companies in Nigeria, along with other senior executives.
In September, TotalEnergies and its partner, South Atlantic Petroleum, signed Production Sharing Contracts for Petroleum Prospecting Licences 2000 and 2001, offshore exploration licenses awarded during the 2024 licensing round. Terraz praised the NUPRC for delivering a transparent 2024 mini-bid round and expressed confidence that the 2025 round would benefit from the Commission’s reform-driven processes and enhanced governance framework.
“Drawing from the 2024 bid round, the 2025 edition would be positive,” Terraz stated, emphasizing that TotalEnergies is “optimistic about the new bid round.” The company’s president noted that the clarity and fairness exhibited in the previous round had strengthened investor confidence, and lessons learned from the 2024 exercise would positively shape expectations for the upcoming licensing round.
Terraz reaffirmed TotalEnergies’ long-term commitment to Nigeria’s upstream sector, describing the country as a strategic hub in the company’s global portfolio. He emphasized the company’s readiness to align with NUPRC’s vision for a more competitive, transparent, and investment-driven oil and gas industry.
In his response, Komolafe reiterated NUPRC’s commitment to maintaining a predictable regulatory environment, noting that the Commission functions not only as a regulator but as a strategic business enabler in line with the Petroleum Industry Act 2021. “Now, in Nigeria, we have a regulator that steps in to address the issues as an enabler,” Komolafe stated, underscoring the Commission’s investor-centric reforms and continued drive to improve operational clarity for oil and gas companies.
Komolafe also commended TotalEnergies for its recent execution of projects under the Obagi Host Communities Development Trust, describing it as a demonstration of the company’s commitment to community development and the spirit of the PIA’s host community provisions.
Source: This Day through allafrica.com