Total acquires offshore concession in Nigeria
Posted: 23 November 2003
Total announces that company's Nigerian operating subsidiary,
Elf Petroleum Nigeria Ltd (EPNL), has signed a Production Sharing
Contract with the Nigerian National Petroleum Corporation (NNPC)
for the Oil Prospecting License (OPL) 221 located in southeast Nigeria.
The deep offshore concession lies in water depths of between 200
and 1,000 meters. OPL 221 is in a high potential area just west
of the OPL 222 where EPNL, as operator, has made significant commercial
discoveries in the Ukot (1998) and Usan (2002) fields. Both fields
are currently being considered for development.
While NNPC is the concession holder, EPNL is operator of the permit
with a 100% stake. Exploration activities are planned to start immediately
with the implementation of a seismic survey programme.
Nigeria is the Africa's largest oil producer and will continue
to be so as deepwater discoveries come on stream. The signing of
this contract is an additional step that confirms Total's determined
growth strategy in Nigeria, and demonstrates its commitment to and
confidence in the country's oil and gas industry's development potential.
For more information see www.total.com.
Posted by Richard Price,
Editor Pipeline Magazine
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