Total Confirms Akpo Start-up

Tuesday, March 10, 2009

France’s Total confirmed recent reports that production from its Akpo field offshore Nigeria has commenced. The Akpo, located on OML 130, began production ahead of its scheduled start-up date in April. According to Total’s press release on the achievement, with proved and probable reserves estimated at 620 millions barrels of condensate and more than one tera cubic feet (tcf)* of gas, the Akpo is one of the largest deep offshore projects ever undertaken and will be the largest brought onstream in 2009.

Akpo allows for the commercialization of significant quantities of gas, which are exported towards the Amenam hub and onward to the domestic market and the NLNG plant. The ramp up of production to 175,000 bpd of condensate and a 320 Mmcf of gas plateau is expected to be reached during summer 2009.

“This early start-up for Akpo demonstrates the dedication of the teams involved in delivering such a complex, yet technologically sound project”, declared Yves-Louis Darricarrère, President Exploration and Production. “This development will bring additional hydrocarbon resources whilst contributing to the development of local communities.”

Total holds a 24% stake in OML 130 and is partnered with NNPC, Sapetro, CNOOC, and Petrobras.

*10¹² cubic feet

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