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

Texaco (now part of Chevron) 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 80,000 b/d, down from 90,000 in 1999, and its output averages 75,000 b/d. Violence affects Texaco.

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/d of gas by 2003. But this depends on NNPC funding its 60% share of the cost.

In December 1994 Texaco got 30% from Statoil/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 Dec. 2000 Statoil had a big oil find in its deep-water Ekoli field in OPL 217 and straddling OPL 216 which is held by Texaco.

In early 1999, Texaco and its local partner Famfa Oil reported "significant" finds of light/sweet oil with Agbami-1 wildcat in OPL 216 in the delta. After subsequent finds there, Texaco is developing Agbami to produce 220,000 b/d of oil and 260 MCF/d of gas by late 2003.

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
Date:Aug 6, 2001
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