Nigeria's old oil fields do not affect output

Oct 08, 2004 02:00 AM

Nigeria's aging oil fields haven't adversely affected the country's crude oil output, a senior Nigerian government official said recently.
Speaking on the sidelines of an industry event in Nigeria, Mac Ofurhie, Director of the Department of Petroleum Resources denied recent reports that Nigeria had been forced to cut its output due to the impact of aging oil fields. One such report suggested that the West African oil producer had cut up to 300,000 bpd of output.

Ofurhie also said Nigeria is well placed to bring new fields on stream to moderate any effect from aging oil fields.
"We have not stopped exploration, so we are able to bring new fields into production," Ofurhie said. The DPR is the regulator of Nigeria's oil and gas industry, it is partly responsible for monitoring the level of production by oil firms operating in the country.

Ofurhie said Nigeria's crude oil production has averaged 2.5 mm bpd. The official said Nigeria's output will rise significantly when new deep offshore fields, currently being developed, come into production.
These fields include Bonga, being developed by Shell's Nigerian unit; Erha, being developed by Esso, a unit of ExxonMobil; and Agbami, being developed by ChevronTexaco.

Source: Dow Jones
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