By Yange Ikyaa
TotalEnergies has said that in the next five years, it will be ramping up the rate at which it is currently producing oil and gas. This, the company said, wil happen not only in Nigeria but around the world wherever it is carrying out operations.
Victor Bandele, who is the Deputy Managing Director of Total Energies, stated this Monday while delivering a speech at the Nigerian Oil and Gas (NOG) Conference, which is holding at the International Conference Centre (ICC) in Abuja.
Bandele also noted that the French energy giant holds an important position in Nigeria’s economic life, and is wholly responsible for the production and distribution of over 20% of the energy that is consumed in the whole of country.
He however explained that, while fossil fuel production will be accelerated by the company, it will still continue to diversify its business into the development of more renewable energy.
According to him, energy diversification from fossil to cleaner fuels will provide more business opportunities, while also benefitting the natural environment.
Going forward, Bandele assured that this diversification drive will continue and, by 2050, 50% of all the energy developed by Total Energies will come from gas, with 35% coming from oil, while the remaining 15% will be based on electricity.