Total Inks Farm-in Deal for Two Blocks Offshore Nigeria
Total's wholly-owned Nigerian operating subsidiary, Elf Petroleum Nigeria Limited (EPNL), has signed a farm-in agreement with Amni International Petroleum Development Company Limited, for the Oil Mining Licenses (OMLs) 112 and 117 offshore southeast Nigeria. With this agreement, EPNL has acquired a 40% participating interesting in both OMLs.
OMLs 112 and 117 are located in the eastern part of the Niger Delta, at about 20 kilometers from the Bonny LNG plant. Together, they cover an area of 550 square kilometers in water depths between 10 to 15 meters.
EPNL is the technical partner and will operate the appraisal and development on behalf of Amni. An appraisal well, Ima 12, has just been drilled and confirmed the gas reserves of the acreage. Tests are currently ongoing to ascertain the quality of the gas and the nature of the reservoirs. The gas reserves will supply Total's future projects in Nigeria.
The development of offshore fields in Nigeria constitutes one of the principle growth areas for Total in Africa, in particular with the development of the Akpo field, with start-up planned for late 2008 at a level of 225,000 barrels of oil equivalent per day. Total also holds a 15 % stake in the Bonny liquefied natural gas plant. The development of Total's presence in Nigeria, combined in particular with the growth of the company's production in Angola, will enable Total to consolidate its position as leader among to other oil majors in Africa.
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