OTC: Who should pay for security in Nigeria?

Nigeria is perhaps known as much for its volatile political climate and security issues as it is for its vast oil reserves.
So it came as no surprise today at OTC when a senior executive with Total, the French oil company, expressed reservations about spending more money in the country on oil and gas exploration.
“Security issues are limiting investment,” said Patrick Pouyanne, senior vice president of strategy and business development and R&D at Total’s exploration and production unit.
Next to him in the morning panel discussion was Emmanuel Egbogah, special advisor to the Nigerian president on petroleum matters. He had a different take on Pouyanne’s observation.
“Maybe investment needs to be higher to solve the security problem,” he said.
Neither Nigeria, nor the other host countries where international oil companies are operating, can be completely responsible for providing security, Egbogah said. That burden should be shared, he argued.

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