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Business

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ICT

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Capital Market

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Insurance

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Business

Guinness Nigeria: N1tn Market Capitalisation Signals Strong Investor Confidence, Sustained Value Creation

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NNPC, TotalEnergies Sign MoU on Adoption of Methane Detection Technology

Executive Vice President, Upstream, NNPC Limited, Oritsemeyiwa Eyesan (2nd right) and Managing Director and Country Chair, TotalEnergies EP Nigeria, Matthieu Bouyer (2nd left), display the signed MoU between NNPC Limited and TotalEnergies on the use of the latter’s Airborne Ultralight Spectrometer for Environment Detection (AUSEA) Technology, aimed at detecting and monitoring methane emissions in oil and gas operations. First from right is the Group Chief Executive Officer of NNPC Limited, Mele Kyari and first from left is the Chairman and Chief Executive Officer of TotalEnergies, Patrick Pouyanné (standing left).

The Nigerian National Petroleum Company Limited has signed a Memorandum of Understanding (MoU) with TotalEnergies for the adoption and deployment of a methane detection technology known as Airborne Ultralight Spectrometer for Environmental Application (AUSEA) in all its upstream operations.

With the agreement, which is a direct benefit from the Company’s participation at the recently concluded United Nations Climate Change Conference (also known as COP28) in Dubai, UAE, NNPC Limited will be able to deploy the TotalEnergies AUSEA technology on its upstream operations sites to ascertain the level of methane emissions from them, with a view to working out emission curtailment measures to help in combating global warming and climate change.

The MoU was signed by NNPC Limited’s Executive Vice President, Upstream, Oritsemeyiwa Eyesan, and Managing Director and Country Chair, TotalEnergies EP Nigeria, Matthieu Bouyer, on behalf of their respective companies, under the watch of the Group Chief Executive Officer (GCEO) NNPC Limited, Mele Kyari, and Chairman and Chief Executive Officer of TotalEnergies, Patrick Pouyanné.

Speaking on the collaboration at the MoU signing event, the GCEO, NNPC Limited, Mele Kyari, described TotalEnergies as a great and reliable partner over the years with whom the Company was looking forward to exploring greater opportunities in the nation’s energy sector.

On his part, the Chairman and Chief Executive Officer of TotalEnergies, Patrick Pouyanné, said his company was offering the technology to NNPC Limited in keeping with its commitment to promote responsible production of hydrocarbons.

He applauded NNPC Limited for its successful transition into a limited liability company, stressing that he could see and feel the energy that the reforms have brought about, not only in the company but also in the sector.

Putting the deal in proper perspective, the NNPC Limited’s Executive Vice President, Upstream, Oritsemeyiwa Eyesan, said the pilot phase of the TotalEnergies AUSEA deployment would be on NNPC Limited’s owned operations, adding that the deal would enable the company to deploy methane abatement measures.

Other benefits of the TotalEnergies AUSEA technology include identification of unaccounted emission sources, establishment of a basis for querying and improving current emission reporting processes, provision of data to review operational system and implement corrective actions, and estimation of flare combustion efficiency.

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When apartheid ended in 1994, the ANC promised to make black South Africans richer (Black Economic Empowerment). The lot of poorer blacks, however, has not improved much. Many are frozen out of the workplace altogether. The unemployment rate among blacks is 28.5%, compared with 5.6% for whites. If those who want work but have given up looking for it are included, the jobless rate is a whopping 41.6% for blacks compared with 7.5% for whites. The Economist, April 27, 2013.

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