ABUJA- French oil giant, Total, has announced that it has signed an agreement with two Nigerian firms to acquire interest in two deepwater offshore operations.
Specifically, Total has acquired 25.67 per cent interest in OMEL(1) Energy Nigeria Limited (OENL) in deep offshore licence OPL 285 and 14.5 per cent of OMEL Exploration and Production Nigeria Limited (OEPNL) in deep offshore licence OPL 279.
Total also disclosed that it had also secured the necessary approvals from the Federal Government.
Adding that OENL would remain the operator for Block OPL 285, while OEPNL would operate Block OPL 279.
The Nigerian company, EMO Exploration and Production Limited is also a partner in the management of the two blocks.
Reports say that OPL 285, covering an area of about 1,170 sq. km, is located approximately 80 km offshore, near the Bonga field, in water depths ranging from 400 to 900 metres.
The OPL 279 is located some 100 km offshore, near the Ehra and Bosi fields, in water depths ranging from 800 to 1,800 metres.
The licence covers an area of about 1,125 sq. km.
Total said that for each block, the first exploration period, which would end in 2012, encompassed the commitments of acquisition and processing of 500 sq. km. of 3D seismic and the drilling of one exploration well.
In the second five-year exploration period, which is optional, the work commitments will cover the acquisition of additional 500 sq. km. of 3D seismic and the drilling of two exploration and/or appraisal wells.
Total E&P Nigeria has been operating in the country for more than 50 years.
It says that developing the country’s deep offshore resources is one of the group’s main growth drivers in Africa, particularly the deep offshore Akpo field in OML 130, which it operates.
According to the IOC, Akpo is scheduled to come onstream by early 2009.
“Development studies are under way for the Egina discovery, also located in OML 130.
Additionally, the development of the offshore Usan field was launched early 2008 and should come onstream in 2011.
“Total’s offshore production in Nigeria currently comes from the OML 99, 100 and 102 blocks, as part of its joint venture with NNPC. The main fields are Amenam-Kpono, Ofon and Odudu area fields.
“The Group’s onshore production comes from the OML 58 block, also operated by Total as part of a
joint venture with NNPC. The main fields here are Obagi, for oil, and Ibewa, for gas.
“The recent OML 58 Upgrade project is designed to increase gas, oil and condensate production capacity,” the mail stated.
In addition, Total has significant equity production in Nigeria from its interests in non-operated ventures, particularly the SPDC JV (10 per cent) and SNEPCO (12.5 per cent), which includes the Bonga field.
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