Petroleum Africa
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Thursday, January 3, 2019
Production has started from Nigeria’s latest development. Total, the operator of the development, brought the Egina field on to production on December 29. At plateau the Egina is expected to produce 200,000 bpd.
The FPSO used to develop the giant Egina field is the largest one Total has ever built. This project has also involved a record level of local contractors. Six of the 18 modules on the FPSO were built and integrated locally, and 77% of hours spent on the project were worked locally.
Startup has been achieved close to 10% below the initial budget, which represents more than $1 billion in capex savings, due in particular to excellent drilling performance where the drilling time per well has been reduced by 30%. ”
“Total is proud to deliver a project of this size under the initial budget and to contribute to the development of Nigeria’s oil and gas sector by generating employment as well as building industrial capability. Egina will significantly boost the Group’s production and cash flow from 2019 onwards, and benefit from our strong cost reduction efforts in Nigeria where we have reduced our operating costs by 40% over the last four years,” stated Arnaud Breuillac, President Exploration & Production. “Furthermore, some upside potential nearby remains to be developed and we are studying in particular Preowei discovery tie-back to the Egina FPSO.”
The Egina field is the second development in production on OML 130 following the Akpo field, which started-up in 2009. The Preowei field is another large discovery made on this prolific block for which an investment decision is scheduled to be taken this year.
Total Upstream Nigeria operates OML 130 with a 24% interest, in partnership with NNPC, Sapetro (15%), CNOOC E&P Nigeria, a wholly owned subsidiary of CNOOC Limited (45%) and Petrobras Oil and Gas (16%).
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