Nigeria to receive oil boost from Amenam/Kpono field

Jan 07, 2004 01:00 AM

Nigeria's crude oil production will be boosted by the second quarter of this year, when the Amenam/Kpono field operated by Elf Petroleum Nigeria Limited (EPNL), a subsidiary of Total, reach its optimal production capacity of 125,000 bpd.
The CEO/Managing Director of the company, Georges Buresi disclosed this in his New Year Message to staff.

The $ 2 bn Amenam Kpono project which began production in July last year has an estimated reserve of 500 mm barrels. Amenam/Kpono oil field, the company's latest offshore project, is envisaged to remain viable for at least 25 years.
In addition to increasing its production profile during the year, the company intends to achieve Final Investment Decisions in other areas including Akpo field coupled with the Nigerian Liquefied Natural Gas (NLNG) Train 6, Ofon phase 11 and Usan. The company disclosed that it will also commence exploration activities in the new deep offshore block, Oil Prospecting Lease (OPL) 221.

Buresi said the company also continues to improve on its commendable health and safety record as well as working to meet the target for an end to gas flaring in its areas of operation. Mr Buresi said the objectives for the New Year present new opportunities and challenges for both individual and corporate growth.
"Some of these challenges include the need for us employees to imbibe the culture of individual responsibility, initiatives and mutual respect that will make us achieve the levels of effectiveness, co-operation and cohesion that is required in our future endeavours," he pointed out.

The managing director also highlighted the major achievements of the company in 2003 and these included the Amenam/Kpono field going into production in July as scheduled and the main contracts for the Amenam/Kpono Oil and Gas Export Project (AKOGEP).
Other achievements are the delineation phase of the giant Usan discovery in OPL 222; successful delineation of Nkarika and the acquisition of a new deep offshore block OPL 221 under a production sharing contract (PSC) with the Nigerian National Petroleum Corporation (NNPC).

The managing director explained that the company's commitment to the development of its host communities was underscored by its renewed investment in sustainable development projects, including the establishment of the Institute of Petroleum Studies (IPS) in collaboration with the French Petroleum Institute at the University of Port Harcourt.
Other renewed investment by the company include, increasing the number of recipients of its scholarship awards, donation of computers and textbooks to secondary schools, and skills development programmes.

Elf Petroleum Nigeria Limited (EPNL), is a subsidiary of the Total group of companies. Total is the fourth largest oil and gas company in the world with operations in more than 100 countries. Total group's activities span all aspects of the energy industry, from oil and gas exploration and production to downstream refining and marketing of oil and gas products.
EPNL was incorporated in Nigeria in May 1962 and is one of the major players in the exploration, development and production of Nigeria's abundant hydrocarbon resources.

Source: Vanguard
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