Total Petroleum

French multinational oil firm Total on Wednesday said it aims to boost Nigeria’s daily oil production by 200,000 barrels from 2018.

The additional barrels would come from the firm’s multi-billion dollar Egina Field Development in Nigeria, according to Nicolas Terraz, a top official of Total Upstream companies in the West African country.

The Egina Field Development, which is near completion, is expected to come on stream in 2018.

Total is at present along the value chain from upstream to the downstream sector with close to 550 service stations across Nigeria, Terraz said at a conference in Lagos.

The total group has invested up to 10 billion U.S. dollars in the Nigerian oil and gas sector in the past five years.

Nigeria is still struggling to recover from an economic recession since the second quarter of 2016. Its oil and gas industry is in a current shakeout due to low prices of oil in the global market.

The country’s maximum crude oil production is currently at 2 million barrels per day (bpd). Enditem

Source: Xinhua/Newsghana.com.gh