A French oil major, Total, has bemoaned the high cost of projects in Nigeria’s oil and gas industry, identifying long contracting cycle, security and community issues as factors that prompt contractors to inflate the cost of projects in the country.The company has also called on the federal government to ensure that the Petroleum Industry Bill (PIB) reduces the duration for getting approvals for projects, saying the number of agencies involved in granting approvals for projects are also responsible for the high cost of projects due to the delay in getting approvals.
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