The French government has reportedly set aside about
one billion euros for investment in the oil and gas
industry.
Denys Gauer, France ambassador to Nigeria, made
this known when Ndu Ughamadu, group general
manager, group public affairs division of the Nigerian
National Petroleum Corporation (NNPC), led a
delegation to his office in Abuja on Tuesday.
According to a statement released by NNPC, France
described Nigeria as its first economic trading partner
in Africa.
Ughamadu said the ambassador commended the effort
made to keep the Niger Delta insecurity challenge at
bay, noting that Total, a French multinational oil and
gas company, had significant investment equity in the
Nigeria Liquefied Natural Gas Limited (NLNG).
Gauer also expressed concern that some French
companies were having challenges with the “unclear”
fiscal policies in the oil and gas sector.
He added that some French investors were currently
developing wind energy and solar energy in Katsina.
Ughamadu said the significant scale down in pipeline
vandalism and insecurity which has boosted oil
production, would allow global investors such as the
French government consider renewable energy, gas
and power infrastructural development, pipeline
construction, storage facility and the direct sales and
direct purchase of Nigeria crude oil grades.
He said the NNPC had global operations and called for
closer collaboration between the French government
and the corporation especially in the area of consular
services to allow NNPC top executives and staff meet
their global engagements.
TheCable
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