NewStats: 3,265,108 , 8,185,699 topics. Date: Friday, 13 June 2025 at 01:39 PM 4l6212

French oil major, TotalEnergies, has announced a $600 million investment deal in the Republic of Congo few days after the CEO said the company chose Angola over Nigeria for a $6 billion energy project.

Recall earlier this week, Nairametrics reported TotalEnergies’ CEO, Patrick Pouyanne, stating that the company chose to invest $6 billion in Angola over Nigeria due to policy inconsistencies and other issues in the country.

Following this, the company also announced a $600 million investment in Congo for oil production and exploration, once again overlooking Nigeria, Africa’s largest oil producer.

According to the press statement on Thursday, the investment will be used to finance exploration and maintain production in the country’s deep offshore Moho Nord field.

“The $600 million investment signals a strong intent by the IOC to develop and monetize Congolese hydrocarbons for the benefit of the country and will unlock a wave of economic opportunities for the broader region.

“Two drilling rigs arrived at the permit this month, with TotalEnergies CEO Patrick Pouyanné expressing his optimism that the field will yield a discovery before the end of the year,” the statement reads in part.

More Insights
According to the statement, in April this year, TotalEnergies, through its subsidiary TotalEnergies EP Congo, signed an agreement to purchase a 10% stake in the Moho permit from Trident Energy.

Furthermore, the African Energy Chamber (AEC) reported that upon completion of this transaction, TotalEnergies will hold a 63.5% operating stake in the permit.

Trident Energy will maintain a 21.5% share, and the Republic of Congo’s national oil company, Société Nationale des Pétroles du Congo (SNPC), will have a 15% stake.

“The $600 million investment by TotalEnergies shows that the IOC is in the Republic of Congo to stay. Congo’s oil and gas can play a much greater role in alleviating energy poverty and driving industrialization in Africa, and partnerships with companies to the likes of TotalEnergies will be instrumental in achieving these objectives.

“We look forward to witnessing new discoveries being made in the coming months,” stated NJ Ayuk, Executive Chairman of the AEC.

Backstory
Earlier on Monday, Nairametrics reported that the CEO of TotalEnergies, Patrick Pouyanne, explained why the company is investing a whooping sum of $6 billion in energy projects in Angola over Nigeria.

Pouyanne, who spoke with lists of the Africa CEO in Kigali, Rwanda, said the inconsistency in policymaking decisions led to the diversion of the project from Nigeria to Angola, a country with a more stable policy framework.
He added that TotalEnergies has not conducted oil exploration in Nigeria for 12 years.

“Nigeria loves to open topics without closing them. You love to debate. There is always a new legislature in Nigeria about a new petroleum law. When you have such permanent debates, it’s difficult for investors looking for long-term structure to know what direction to go.

“In reality, the Niger Delta is the most prolific part of West Africa. But if you look at what happened, because of these debates, there has not been a single exploration in Nigeria for 12 years.

“It’s important to have a debate and then settle it and put a framework on the table that investors can trust.

“We have countries that have perfectly integrated policies like Angola. So, we go to Angola and announced a very large $6 billion projects in the beginning of the week because there their framework is stable. So we know where we go,” Pouyanne said.

https://nairametrics.com/2024/05/25/again-totalenergies-snubs-nigeria-announces-600-million-investment-deal-in-congo/

Total Energies, the leaders in environmental pollution and degradation of our eco-system.

Make dem park one side abegi

All thanks to Buhari, Tinubu and APC.

Nigeria will always curse the day these idiots where born.

W

You can't blame them
Not after what they did to binance executives
Nobody would trust investing in such a country...

Unstable government policies

Yarimo , Tinubu is a disaster

Why would any sensible foreigner invest in this shit hole. So that tomorrow they would demolish their business abi.

Nigeria is currently the worst place to do business on earth.

The ugly corpse like economic guru mugu just dey sit down claim investment wey never sure while investors prefer to invest in countries near warzones than the zoo he presides over.

Good news

Ebola wasting our money traveling up and down to sign fake FDI.


Reno Omonkey and his demons will say that it was the insult of Peter Obi's ers that chased Total away.

jayce232:
You can't blame them
Not after what they did to binance executives
Nobody would trust investing in such a country...

What was done to Binance executives ?

Their Platform was been used to manipulate the national currency and you expect the government to keep quiet ?

Nations around the world are banning Binance from operating there and you want Nigeria to become their IDP Camp ?

That would not happen

If Total energy invest 10 Billion dollars in Nigeria and we later discover that they are into crude oil theft or other illegal activities, then their executives must face the laws of the land.

Anyone or organisation would be stupiid to invest in Nigeria.

Why are you people surprise. Just get your act together simple as that!

This happening after following all IMF policies

IOCs are moving their installations offshore. Communities are giving them headaches coupled with vandalization. The country will soon be forced to stand independently.

Nigeria is beyond repair, just know how to play safe.

Wow, Ponticelli

After losing investment to Angola , we are losing to Congo again.
Nigeria will be great again but we must have a stable environment and policy




Check my previous post for affordable kids tablets and other gadgets.

ceejay80s:
Good news

How is this good news?

Why do bad news delight you? Is this high level of bitterness and toxicity inborn or acquired?

I don't just understand you people at all.

What a curse this present istration has become to the good people of Nigeria... and we were warned!

whytediamond:
Total Energies, the leaders in environmental pollution and degradation of our eco-system.

Make dem park one side abegi

If they can use and dump you, as in this case, you are the problem

Reasons are obvious

whytediamond:
Total Energies, the leaders in environmental pollution and degradation of our eco-system.

Make dem park one side abegi

Is that all you have to say?

The pace at which we are loosing investments, it is obvious no investor is taking us seriously despite the drive to invite them, it is time to look inward and local investors. Our international image is almost battered.

Who would want to invest in country only for his investments to be bulldozed by the successive government for the flimsiest excuse?

Of course they have no regard for Nigeria, just as Nigeria has no regard for itself, else we would have closed the embassy of the UAE. We allow people, countries or companies treat us badly. It is a shame.

nlfpmod:


https://nairametrics.com/2024/05/25/again-totalenergies-snubs-nigeria-announces-600-million-investment-deal-in-congo/

This is y total ran to congo
They can come & kill Thier selves

Total can do whatever it likes with its money. The earlier Africans realise that the best form of Growth is within and not dependent on foreigners the better. All we need is sincerity of purpose .

Promismike:
All thanks to Buhari, Tinubu and APC.

Nigeria will always curse the day these idiots where born.

We won’t spear those that keep electing the worse of us

whytediamond:
Total Energies, the leaders in environmental pollution and degradation of our eco-system.

Make dem park one side abegi

Coping mechanism at work

Ok

whytediamond:
Total Energies, the leaders in environmental pollution and degradation of our eco-system.

Make dem park one side abegi

yinmu consolation