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