This is just as the international oil company (IOC) also announced its partnership with Kwik Delivery to develop an e-commerce fulfilment and delivery service in
Speaking at a management session during the recently held 38th edition of the international conference and exhibition of the
Represented at the session with the theme: "Future of Oil and Gas Industry in Low Oil Price Environment: Survival Strategies," by the Deputy Managing Director, Deepwater,
He attributed the decline in investment in the nation's petroleum sector to issues around uncompetitive fiscal terms, increasing cost of operations, unsettled deep water disputes, and upcoming deep-water lease expiry.
Sangster said: "A win-win PIB: Total is keen to continue to invest in
"That is to say that, the
"No major investment decision was taken in Deepwater Nigeria from 2015 - 2019, despite a number of available potentially viable projects.
"Uncompetitive fiscal terms, increasing cost, unsettled deep water disputes, and upcoming deep-water lease expiry all contribute to increase the risk for investors and prevent new investments".
He assured that his company would support the efforts being made by the Nigerian authorities to define a long- term framework for the oil and gas industry that provides clarity and certainty as well as attractive terms which translate to a win-win solution for the country and investors.
According to him, that would further attract more capital investment in an ever more competitive world, adding that a progressive, win-win PIB would no doubt be the catalyst needed for a new wave of hydrocarbon exploration and development investment in
On diversification and pursuit of new energies, Sangster stated that even before the period of heightened concerns about the COVID-19 which has brought about a reduction in global demand, firms and countries eager to reduce their carbon footprints had been out with strategies and an evolving energy mix in the shift towards cleaner energy.
He noted that the challenge for companies like Total was to strike the right balance between enabling the energy transition by investing in new energies such as solar and wind power while continuing to provide oil and gas to meet the needs of our customers and society.
"Consequently, in order to respond to the current global crisis, we need to manage through the uncertainties and seize the identified opportunities. The overarching message here is: Let's develop
"Total is part of the solution to climate change with a commitment to delivering reliable, affordable and clean energy to the population. We have made important investments locally in this area and implemented several initiatives that are already impacting the Nigerian energy landscape positively," the Total boss added.
Meanwhile,
A statement by the External Relations Manager,
"Drop off and pick-up locations are essential to the development of e-commerce in
"We are glad to partner with Kwik Delivery on this essential service to Nigerian businesses", General Manager, Sales and
"This partnership is a great step toward establishing an e-commerce infrastructure that stakeholders can trust and rely on. We are honoured to inaugurate this service in partnership with
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