The Nigerian National Petroleum Company Limited (NNPCL) has successfully mediated a peace deal to resolve the ongoing dispute between the management of TotalEnergies and the Petroleum and Natural Gas Senior Staff Association/Nigeria Union of Petroleum and Natural Gas Workers.

Following the peace agreement, the unions have agreed to temporarily suspend the ongoing industrial action against TotalEnergies. This development has resulted in the immediate restoration of 275,000 barrels of crude oil per day, as TotalEnergies operates the NNPC/Total Joint Venture.

The organized labor had raised concerns about Fedoz Nigeria Limited, an oil servicing firm, allegedly dismissing three members of the Petroleum and Natural Gas Senior Staff Association of Nigeria without due process. Additionally, they accused TotalEnergies of failing to increase workers' salaries to align with the prevailing economic situation in the country.

The Chief Corporate Communications Officer of NNPCL, Olufemi Soneye, revealed in a statement that a communique was issued at the end of a negotiation session, chaired by Oritsemeyiwa Eyesan, Executive Vice President, Upstream, NNPCL. All parties involved committed to resolving the issues within an agreed framework.

The communique was signed by TotalEnergies MD/CEO, Matthieu Bouyer; PENGASSAN President, Festus Osifo; and NUPENG President, Williams Akporeha. It was witnessed by NNPC Ltd, EVP Upstream, Mrs. Oritsemeyiwa Eyesan, and Mr. Bala Wunti, Chief Upstream Investment Officer, NNPC Upstream Investment Management Services. Mr. Victor Bandele, Deputy Managing Director, TotalEnergies, also attended the meeting.

The communique emphasized TotalEnergies' commitment to addressing the concerns raised by the unions and stated the company's engagement since July in a collective negotiating process leading to proposed salary increases above inflation. TotalEnergies expressed dedication to exploring legitimate means to achieve a sustainable resolution of the ongoing situation amidst the current economic challenges.