Nigerian Senate

The Senate has directed the suspension of further variations on the Total Upstream Nigeria Limited 16.3 Billion dollar Egina Deep Sea Oil Project.

The Ad hoc Committee on Investigation of Local Content Element on Egina Oil Field made this known on Thursday in a statement.

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Chairman of the committee, Sen. Solomon Adeola, gave said the directive followed Senate’s resolution to pay consultants to do a ”Value for Money Audit” of the Egina project.

He said after a two billion dollar variation on the project, there was proposal for another one billion dollar variation.

He said “the audit would last for 16 weeks by consultants paid by the Senate to ensure independent account instead of being carried out by NNPC/NAPIMS as required by the contractual agreement.

He decried that over the five year period of the project no audit of any kind has been carried out.

Mr. Nicolas Terraz, Managing Director of Total Upstream Nigeria Limited, stated that as the major operator of the project, it would continue to assist the committee in its investigations.