Bandele emphasises efficiency, collaboration to drive Africa’s energy growth
By Yunus Yusuf
Mr Victor Bandele, Deputy Managing Director of Deepwater Assets at TotalEnergies, has underscored the importance of increased efficiency and collaboration to make Nigeria’s energy industry more competitive and attractive to investors.
Bandele highlighted that creating the right environment for growth is essential to fostering investment opportunities.
He, along with other company executives, shared their insights on “Driving Africa’s Energy” during a session at the going Sub-Saharan Africa International Petroleum Exhibition and Conference on Wednesday in Lagos.
The event, themed “Building Africa’s Future: Advancing Local Content and Sustainable Development in the Oil & Gas Industry,” brought together key industry players to discuss the sector’s future.
The session focused on the challenges faced by African International Oil Company (IOCs) and independent operators in navigating the oil and gas landscape, offering perspectives on strategic developments and portfolio management.
While expressing confidence in the continued relevance of oil and gas for Africa’s development, Bandele acknowledged the growing competition for resources that is impacting the industry.
“There’s significant competition worldwide, and competition within the country as well.
“When we look at the broader picture, there is fierce competition for investments in Africa and beyond,” he said.
Bandele noted that this competition means that investment opportunities meant for one region could easily shift elsewhere.
He emphasised the urgency for ongoing projects to maintain efficiency in costs, delivery, and sustainability in order to stay competitive.
In response to a commendation from the Nigerian Liquefied Natural Gas (NLNG) company regarding TotalEnergies’ consistent meeting of gas supply obligations, Bandele proudly shared that the company had achieved zero routine gas flaring over a year ago.
He reaffirmed TotalEnergies’ commitment to fulfilling its obligations and expanding its contributions with the Final Investment Decision (FID) on the UBETA gas project.
He pointed out that the swift FID on UBETA, just months after an executive order and the right incentives were put in place, demonstrated the significant impact of a favorable environment in driving investments.
The panel was moderated by Mrs Elisabeth Rogo, CEO of Tsavo Oilfield Services Limited, Kenya.
Other panelists included Mr. Akeem Ariyo, Managing Director of AOS Orwell; Mr. Osayande Igiehon, Managing Director of Heirs Energies; Mr Nnamdi Anowi, General Manager of Production at NLNG; and Mrs Maureen Ikenedu, General Manager of Wells at Chevron Nigeria, who represented Mr Jim Swartz, Chairman and Managing Director of Chevron Nigeria.
