Lagos – The Managing Director and Chief Executive Officer, Total Exploration and Production, Mr. Mike Sangster, has urged the government to provide an enabling environment in order to reduce Oil and Gas theft.
Speaking at the management session of the ongoing NAPE 38th Annual Conference & Exhibition with the theme, “Future of Oil and Gas in low price environment, survival strategies”, he revealed that one of the main challenges facing oil and gas companies is pipeline vandalism and oil theft with estimated large volumes of oil stolen in the oil-producing areas across the country.
Sangster, who was represented by the Deputy Managing Director, Deep Water, Total E&P, Mr. Victor Bandele, said measures have been put in place to end the menace but added that more concerted efforts would further minimise the incidence and the associated financial loss, in addition to helping the industry survive in these trying times.
He stressed that issues of security around oil and gas installations and operating environments needed to be addressed holistically, as reduction in incidence of oil theft would boost oil and gas production.
“Total is always delighted to identify with the Nigerian Association of Petroleum Explorationists (NAPE) in the partnership of sustainable economic development of our dear country, Nigeria” he stated.
He reiterated that over the years, NAPE had made high quality contributions from the annual conferences which had positively impacted the oil and gas industry as well as the Nigerian economy.
Sangster averred that Total E&P agreed that Nigeria must plan and exist with the current reality of low prices and optimise its opportunities and strength in order to enhance its competitiveness.
He emphasised that with the help of technology, the world is now able to access oil from domains previously unimaginable and the result is the abundance of oil and gas resources around the world.
According to him, the challenge now is how to deploy technology to drive down costs in order to remain competitive.
Speaking on the proposed Petroleum Industry Bill, PIB, he said a win-win petroleum bill was possible, maintaining that Total was keen on continuing to invest in Nigeria and also willing to contribute constructively to the ongoing debate on the PIB.