TotalEnergies EP Nigeria Limited Country Chair and Managing Director, Matthieu Bouyer, has urged the Federal Government to move beyond policy reforms and ensure they translate into actual oil and gas projects, higher production and sustainable economic value for Nigeria. Speaking at the fifth PENGASSAN Energy and Labour Summit in Abuja, Bouyer said Nigeria had the resources, expertise and energy demand to remain a major player in the global energy market, but stressed that the real challenge was turning its potential into tangible results.
With the summit themed “Strengthening Regulatory Frameworks as a Catalyst for Stability and Growth in Nigeria’s Oil and Gas Industry,” Bouyer said the industry should no longer measure progress simply by the number of reforms introduced. Instead, he said success should be judged by the investment, projects, jobs and production those reforms unlock. According to him, delays caused by regulatory uncertainty and bureaucratic bottlenecks affect not only oil companies but also government revenue, employment, local content, host communities and investor confidence.
Bouyer identified regulatory stability and predictable implementation as key to attracting long-term investment, while urging operators, labour unions and host communities to play their respective roles in creating a more competitive industry. He described industrial harmony as a “business enabler,” arguing that a stable environment is essential for improving safety, production, investment and workforce development. He added that Nigeria is competing with other oil-producing countries for global capital, making issues such as fiscal terms, security, project timelines, costs, emissions and regulatory certainty increasingly important to investors.
The TotalEnergies chief pointed to recent reforms, including the Petroleum Industry Act, incentives for non-associated gas and deepwater developments, efforts to shorten contracting timelines and measures to improve cost competitiveness, as positive steps towards reviving investment. He also highlighted the 2024 and 2025 exploration licensing rounds, describing exploration as the “renewal engine” of the industry. He cited the Final Investment Decision taken by TotalEnergies and NNPC Limited on the Ubeta gas development in 2024 as an example of how policy, partnerships and project readiness can combine to deliver concrete results. “Reform becomes real when it unlocks projects,” he said.
On gas, Bouyer said Nigeria’s vast gas resources could support electricity generation, industrial growth, domestic energy supply, LNG exports and lower-emission production. However, he warned that unlocking this potential would require infrastructure, bankable contracts, reliable offtake arrangements, payment discipline, faster approvals and commercially viable frameworks. He also stressed that reducing gas flaring, methane emissions and improving emissions monitoring could create additional economic value by making more gas available for domestic use, exports and the wider energy value chain.
source: The guardian
