re Deep Offshore Akpo Field
Total S.A.
2 May 2005
Total Launches Development of Nigeria's Deep Offshore Akpo Field
Paris, May 2, 2005 - State-owned Nigerian National Petroleum Corporation (NNPC)
has authorized Total, as operator, to begin developing the offshore Akpo field
on the Oil Mining License (OML) 130, Nigeria. Total holds a 24% interest in the
OML 130, alongside NNPC, Petrobras and Sapetro.
Discovered in 2000, the Akpo gas and condensate field is located around 200
kilometers offshore Port Harcourt in water depths ranging from 1,100 to 1,700
meters.
The field development plan calls for 22 producing wells, 20 water injection
wells and two gas injection wells, tied back to a floating production, storage
and offloading (FPSO) vessel with a storage capacity of 2 million barrels.
Akpo will come on stream in late 2008 and is expected to quickly reach peak
production of 225,000 barrels of oil equivalent per day, of which nearly 80%
condensate. The condensate will be exported via a buoy located 2 kilometers from
the FPSO, while the gas will be piped 150 kilometers to the Amenam/Kpono
platforms, from where it will be sent to the Bonny liquefaction plant.
'This latest major development project confirms Total's commitment to pursuing
our growth strategy in Nigeria and developing the country's oil and gas
industry. The development of Akpo is a further demonstration of our ability to
meet the technological challenges of the deep offshore,' said Christophe de
Margerie, Total's President, Exploration & Production.
Africa is Total's leading growth region, accounting for production of 813,000
barrels of oil equivalent per day in 2004, of which 271,000 in Nigeria, a key
contributor to the Group's strategy to strengthen its presence in the deep
offshore Gulf of Guinea.
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Total is the fourth largest oil and gas company in the world with operations in
more than 130 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.
Total has more than 111,000 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
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