TotalEnergies: Egina wins Award at OTC, Ikike attains 70% completion as JV carbon credit hits €1.4m

TotalEnergies flagship deepwater project in Nigeria, Egina, has won special laurel at the just concluded Offshore Technology Conference (OTC) in Houston, Texas, United State of America.

Platforms Africa reports that the OTC, biggest assembly of stakeholders in the global oil industry, gave the special recognition to Egina based on unprecedented feats it achieved, particularly its contribution in raising Nigeria’s quota to the global pool of TotalEnergies’ daily output to 10 per cent.

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Confirming this recognition during a virtual press conference, Deputy Managing Director, Total Deepwater District, Mr. Victor Bandele, added that TotalEnergies took the decision to invest in Egina during that oeriod based on the company’s commitment and belief in Nigeria.

The company’s Ikike project, which follows Egina, has also attained 70% completion.

TotalEnergies logo

He maintained that while these feats and others are recorded by TotalEnergies, the company’s JV has also earned €1.4m carbon credit from a project in Nigeria.

“TotalEnergies and its Joint Venture partner the Nigerian National Petroleum Corporation (NNPC) earned about €1.4 million through the sales of carbon credit in the European market in 2020,” he said.

He reinstated the company’s drive towards reducing carbon emissions in line with Nigeria’s latest climate plan.

Bandele assured that TotalEnergies is committed to eliminating routine gas flaring by the year 2030.

He explained that the company’s mission was to produce and supply energy to meet the challenge of the 21st century, while playing an active role in the transformation that is underway in the energy industry.

Bandele who announced the change of the company’s name in Nigeria from Total Exploration and Production Nigeria Ltd to TotalEnergies Exploration Production Nigeria Ltd, including that of its upstream sector, stated that all the company’s communication and signage would now reflect the new logo and names as applicable.

While highlighting the trailblazing role of the company which has been involved in the oil and gas business in Nigeria for over 60 year, Bandele said “all projects since 1999 are designed with zero gas flare target.”

Corroborating Bandele’s view, Country Communication Manager at TotalEnergies, Dr. Charles Ebereonwu, said that Carbon credit is a permit that allows the company that holds it to emit a certain amount of carbon dioxide or other greenhouse gases.

He pointed out that it was through TotalEnergies carbon credit project that made Nigeria to earn about €1 million.

“Two major ways is either you use your positive carbon credit position to offset your negative position in other businesses to create a carbon neutrality or you can monitise it for someone in negative position,” Ebereonwu explained.

He reiterated the company’s plan to remain and do business in Nigeria.

Ebereonwu stated that it is remarkable what TotalEnergies has been able to do in Nigeria in the last 10 years. For instance the company has invested over $10 billion in Nigeria in the last 10 years and is ranking second in crude production in Nigeria..

The company has also reduced gas flare and intend to remove 45 percent flare level by 2025.

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