Total unit buys stake in licenses off Nigeria

Jul 28, 2006 02:00 AM

Total subsidiary Elf Petroleum Nigeria Ltd. (EPNL) has signed a farm-in agreement with Amni International Petroleum Development for a 40 % participating interest in two oil mining licenses (OMLs) in 10-15 m of water off southeast Nigeria.
OML 112 and 117 cover 550 sq km in the eastern part of the Niger Delta, 20 km from the Bonny LNG plant, in which Total holds a 15 % stake.

The Ima 12 appraisal well confirmed the gas reserves of the acreage. Tests are under way to determine the quality of the gas and the nature of the reservoirs.
Total anticipates that these gas reserves will supply its future projects in Nigeria. EPNL is the technical partner and will operate the appraisal and development on behalf of Amni.

Source: AFP
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