Financial Energy Review
The Managing Director of Total Exploration and Production (E & P) in Nigeria,Nicolas Terraz, has said that the current dwindling fortune of the oil industry occasioned by the fall of oil price in the global oil market is an opportunity for the oil companies, IOCs to refocus their operations. This he said should include cutting down the cost of operations and repositioning inwardly.
Speaking at the just concluded Offshore West Africa, conference held in Lagos, Terraz noted that oil companies and other stakeholders need to change their approach and mode of operations because of the current challenging time in the world oil market.
According to him, part of the measures that Total E& P is adoptingincludes the company’s special attention and premium it places on safety. Total over the years has been intensifying its campaign on workers’ health, safety and care for the environment. This has over time reduced the number of incidents due to improvement on Health, Safety and Environment (HSE) management. According to Total officials, workers attention to safety culture has been emphasized “Promoting safety at work is a critical area for management. Good behaviour can be used to minimize errors and reduce potential for accident” Total official said.
For instance, Total’s safety efforts at the company’s rigs, the Ofon 2 Field flare out has earned the company a global award. Recently Total organized safety programme for OML 58 contractors. “This programme was borne out of our desire to ensure that our contractors are abreast of our HSE culture to ensure that jobs are done with right tools and in a safety manner” the Total official had said.
Also as part of plans to stay afloat at this challenging time TotalE & P embarked on the upgrading of the design life of OML 58 to ensure that it meet the latest international standard of production and safety.
According to Total E & P, the upgrade is targeted to boost gas supply for both industrial and domestic use and to increase deliveries to the Nigerian Liquefied Natural Gas (NLNG) in Bonny.
The project covered the Ogbogu Flow Station, Field Logistic Base, Obite treatment Center, O U R Pipeline and Northern Option PipeLine (NOPL). Total pointed out that aside the financial aspect of managing this project, the cooperation and synergy between the production and field operation teams led to the seamless activities during the course of the project which had 380 project team staff of 31 nationalities.
The upgrade of the 58-year old Ogbogu Flow Station included the construction of water tanks; Revamping work on the field Drained pit and Platform for new MP Compressor. This upgrade is to increase production and improve safety.
