There is division among the International Oil Companies (IOC) as some of them have openly supported Nigeria's bid to carry out far-reaching reforms in the oil and gas sector while others are opposed to the Petroleum Industry Bill currently with the National Assembly.
Total Upstream said they are ready to work with Nigerian government in the ongoing reforms in the oil and gas sector.
The Vice President, Exploration and Production, Total Upstream Worldwide, Mr. Wves Louis Darricarrere said Nigeria was a very important country in Total's business and that it was ready to continue to invest in Nigeria.
Mr. Darricarrere made this commitment during a courtesy visit to the Group Managing Director of the Nigerian National Petroleum Corporation, Dr Mohammed Sanusi Barkindo.
Ann Pickard the outgoing Regional Executive Vice President, Shell Exploration and Production, Africa, on Tuesday while delivering a paper at the 2010 NOG, described the PIB as "a cumbersome document that lacks insight into the very basics of our industry." While forecasting a bleak future for the oil and gas industry post-PIB, Pickard also criticized the fiscal provisions of the proposed law which she described as the "harshest in the world".
But Darricarrere said "We want to continue to work in your country; we want to continue to invest. Nigeria is a very important country in our business."
Contrary to the pessimism expressed by some IOC's concerning the future of investments in the Nigerian oil and gas sector, the Total boss expressed confidence in the future of the partnership between his company and the corporation and its investment in the country, adding: "I have no reason to be pessimistic."
Dr. Barkindo, in his welcome remarks dismissed insinuations that the Petroleum Industry Bill was designed to punish some operators in the Nigerian oil and gas industry.
He urged the Total boss to join the NNPC in building the infrastructure to support the implementation of the PIB when it eventually becomes an Act.
