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NIGERIA - Texaco/Chevron/NNPC - 20/20/60%.

Texaco operates several fields, mostly offshore, grouped in the name of its first discovery in 1965, Pennington, which is also the name of its terminal and of its export blend. Texaco's capacity is 90,000 b/d. But its output in the past month was 65,000 b/d due to violence in its area of operations, with violence having affected the company occasionally for years, and non-payment of cash calls by NNPC.

Pennington blend is 38 deg. API with 0.1% sulphur. Pennington terminal is in the platform of Apoi field, found in 1973 and producing 36.5 deg. API oil. One of Texaco's new fields, Madu, produces about 10,000 b/d. Texaco is to develop Okubie, which could produce up to 100,000 b/d of condensate and over 250 MCF/day of gas by 2003. But this depends on NNPC funding its 60% share of the cost. Because of budget cuts and NNPC payment delays, Texaco has scaled down exploration and development work.

In December 1994 Texaco got 30% from Statoil and BP in three deep-water blocks. Statoil had drilled a well in block OPL 210 at a depth of 1,000 feet and found 100m barrels - not enough to warrant development as costs were high. Statoil kept an interest in these operations. In March 1999, Texaco found oil with Nnwa-1 well in block OPL 218 in the Niger Delta. It indicated several hundred million barrels of recoverable oil. In early 1999, Texaco and its

local partner Famfa Oil reported "significant" finds of light/sweet oil with Agbami-1 wildcat in block OPL 216 in the delta.

NNPC/PanOcean is the smallest among the eight producing JVs in Nigeria, with an output of 4,000 b/d.
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Publication:APS Review Gas Market Trends
Geographic Code:6NIGR
Date:Aug 9, 1999
Previous Article:NIGERIA - Agip/Phillips/NNPC.
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