In a major boost for Nigeria’s oil and gas sector, Conoil Producing Limited and TotalEnergies have signed a landmark production contract in Paris, signaling a significant expansion in the country’s hydrocarbon output.
The agreement was formalized at TotalEnergies’ headquarters at La Défense, Paris, earlier today, with the presence of key industry leaders. Dr. Mike Adenuga Jr., Chairman of Conoil Producing and one of Nigeria’s foremost business magnates, and Mr. Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies and Commander of the French Légion d’Honneur (CdrLR), jointly signed the historic deal.
“This contract represents a major milestone in Nigeria’s energy sector, and it reflects the commitment of both Conoil and TotalEnergies to sustainable growth and investment in Africa’s largest economy,” an official statement said.
The deal also underscores growing international confidence in Nigeria’s energy potential, even as the nation seeks to diversify its revenue streams and attract further foreign investment into its oil and gas industry.
Further details of the production contract, including investment size, projected output increases, and timelines, are expected to be released in the coming weeks.
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