Total S.A.
15 July 2003
Nigeria: first production of Amenam/Kpono and start up of a new floating storage
and offloading facility
Paris - July 15, 2003 - Total announces the start of production of the
Amenam/Kpono field operated by its subsidiary Elf Petroleum Nigeria Limited
(EPNL) that will produce 125,000 barrels of oil per day once it reaches peak
production.
The field is located 30km offshore in a water depth of 40 meters and straddles
two concession areas, Oil Mining Lease (OML) 99 operated by EPNL and OML 70
operated by Mobil Producing Nigeria Unlimited, a subsidiary of Exxonmobil.
EPNL, operator with a 30.4% interest, is partnered with the Nigerian National
Petroleum Corporation (NNPC) and Mobil Producing Nigeria.
Furthermore, the NNPC/EPNL joint venture (NNPC 60%, EPNL 40% operator) has put
into place a new floating storage and offloading (FSO) facility, replacing the
FSO Domy, that collects production from Amenam/Kpono as well as from Odudu and
Ofon located respectively in OML 100 and 102. The new FSO Unity has a storage
capacity of more than 2.4 million barrels of oil.
The combined investment for these two projects is $1.4 billion.
'We are proud to bring this important project on-stream on-time and within
budget. Amenam/Kpono fits within the Group's strategy of increasing production
by an average of 5% annually over the next 5 years', declares Christophe
de Margerie Total's President Exploration and Production.
'It was extremely important for us to contribute to local communities,'
continues Mr. de Margerie. 'We worked closely with international
non-governmental organisations to put into place sustainable development
programmes that would provide long-standing and tangible benefits for the people
of Nigeria.'
In line with Total's environmental policies, there will be no gas flaring.
Associated gas will be re-injected and in a second phase part of this associated
gas will be transferred to the Nigerian liquefied natural gas (LNG) Bonny plant
for export.
Total is the fourth largest oil and gas company in the world with operations in
more than 120 countries. Total's activities cover the whole energy chain of the
petroleum industry: exploration, oil and gas production, refining and marketing,
trading and power generation. The Group is also a major player in chemicals
through its chemicals branch, Atofina. Total has 121,000 employees worldwide.
More information can be found on the company's website: www.total.com
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.