Nigeria: TotalEnergies Renews the OML130 Deep Offshore License
May 29 2023 - 2:36AM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), operator of
OML130 in Nigeria, announces the renewal of the production license
on this block for 20 years.
Located 150 kilometers off the Nigerian coast, the OML130 block
contains the prolific Akpo and Egina fields which came into
production in 2009 and 2018 respectively. In 2022, production
amounted to 282,000 boe/d: nearly 30% was gas sent to the Nigeria
LNG plant, notably contributing to Europe’s energy security. The
production start-up from Akpo West, a short-cycle project, is
expected by the end of 2023. In addition, OML130 contains the
Preowei discovery, to be developed by tie-back to the Egina
FPSO.
“Through the OML130 license renewal, TotalEnergies is pleased to
continue its contribution to the development of Nigeria’s oil and
gas sector. This 20-year extension will enable us to move forward
with the FEED studies on the Preowei tie-back project which aims to
valorize a discovery using existing facilities in line with
Company’s strategy focusing on low-cost and low-emission assets”,
said Henri-Max Ndong-Nzue, Senior Vice President Africa,
Exploration and Production at TotalEnergies.
TotalEnergies Upstream Nigeria Limited operates OML 130 with a
24% interest, in partnership with CNOOC (45%), Sapetro (15%), Prime
130 (16%) and the Nigerian National Petroleum Company Ltd as the
concessionaire of the PSC.
***
About TotalEnergies in Nigeria
TotalEnergies has been present in Nigeria for more than 60 years
and employs today more than 1,800 people across different business
segments. The Company produced 204,000 boe/d in 2022 in the
country, making it one of the largest contributors to
TotalEnergies’ hydrocarbon production. Its participation in Nigeria
LNG, where construction of a 7th train is in progress, contributes
to the Company’s global LNG portfolio. TotalEnergies also operates
an extensive distribution network which includes about 540 service
stations in the country. In all its operations, TotalEnergies is
particularly attentive to the socio-economic development of Nigeria
and is committed to working with local communities.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and
markets energies: oil and biofuels, natural gas and green gases,
renewables and electricity. Our more than 100,000 employees are
committed to energy that is ever more affordable, cleaner, more
reliable and accessible to as many people as possible. Active in
nearly 130 countries, TotalEnergies puts sustainable development in
all its dimensions at the heart of its projects and operations to
contribute to the well-being of people.
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Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company”
in this document are used to designate TotalEnergies SE and the
consolidated entities that are directly or indirectly controlled by
TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also
be used to refer to these entities or to their employees. The
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shareholding are separate legal entities. This document may contain
forward-looking information and statements that are based on a
number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be
inaccurate in the future and are subject to a number of risk
factors. Neither TotalEnergies SE nor any of its subsidiaries
assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this
document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
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