French oil and energy group Total will formally approve a decision to proceed with the Ikike project in Nigeria in the coming months, said chief executive Patrick Pouyanne quoted by Reuters news agency.
“There is a huge potential in Nigeria, it is probably the most prolific country in west Africa in terms of oil and gas and it is time to launch new projects and we are working on many of them,” Pouyanne told journalists on Monday.
Pouyanne was speaking on the sidelines of a meeting of Nigerian and French businesses in Paris.
Total is one of the strongest players in the African oil sector, holding the largest proven reserves on the continent among the world’s top oil companies.
Earlier this month, Total started production at the Egina oilfield off the coast of Nigeria.