French oil group starts production offshore Nigeria

French oil group starts production offshore Nigeria

French oil group starts production offshore Nigeria

/ Oil & Gas / Sunday, 06 January 2019 09:22

The French oil group Total announced the start of production on the giant offshore oil field of Egina, Nigeria, with a target of 200,000 barrels/day, or 10% of the country's production.

The Egina Floating Production Storage Offloading (FPSO) unit is “the largest ever built by Total,” the group said in a statement.

The Egina field, located 150 km off the coast of Nigeria, is part of the OML 130 block, operated by Total Upstream Nigeria Ltd. Total holds a 24% stake in partnership with Nigeria's NNPC, as well as Nigeria's South Atlantic Petroleum (SAPETRO, 15%), China's CNOOC (45%) and Brazil's Petrobras (16%).

Total pointed out that the start of production at Egina had been completed at a cost of almost 10% lower than the initial budget, ie “a saving of more than a billion dollars”.

“Egina will increase the group's production and cash flow by 2019,” said Total's Exploration-Production General Manager Arnaud Breuillac, quoted in the statement.

The director adds that “potential work still needs to be developed nearby”, indicating that the group is studying the connection of the Preowei field to the Egina platform. An investment decision is expected in 2019.

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