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    MarketForces Africa » MarketForces News » Nigeria: Production Commences at Akpo West Field –TotalEnergies

    Nigeria: Production Commences at Akpo West Field –TotalEnergies

    Julius AlagbeBy Julius AlagbeFebruary 7, 2024 News No Comments2 Mins Read
    Nigeria: Production Commences at Akpo West Field –TotalEnergies
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    Nigeria: Production Commences at Akpo West Field –TotalEnergies

    TotalEnergies has announced the commencement of production, another tie-back project at Apo West Field, Nigeria, according to an official statement.

    According to a statement, the company said the production operation started with its partners from the Akpo West field on the PML2 license in Nigeria.

    Located 135 kilometres off the coast, Akpo West is tied back to the existing Akpo Floating Production Storage and Offloading (FPSO) facility, which started up in 2009 and produced 124,000 barrels of oil equivalent per day in 2023.

    TotalEnergies said by mid-2024, Akpo West will add 14,000 barrels of condensate production per day, to be followed by up to 4 million cubic meters of gas per day by 2028.

    The Akpo West development leverages the existing Akpo facilities to keep costs low and minimize greenhouse gas emissions.

    The project’s carbon intensity is expected to be below 5 kg CO2e/boe and will contribute to reducing the average carbon intensity of TotalEnergies’ portfolio.

    “After Ikike in 2022, TotalEnergies is pleased to start production of another tie-back project in Nigeria, Akpo West, which will contribute to maintaining the production of the existing Akpo facilities by developing additional nearby resources.

    “This project fits the Company’s strategy of developing low-cost and low-emission projects”, said Mike Sangster, Senior Vice President of Africa, Exploration and Production at TotalEnergies.

    “This project leverages TotalEnergies’ solid footprint in Nigeria and will quickly bring value to the country, TotalEnergies and its partners.”

    TotalEnergies is the operator of PML2 with a 24% interest, in partnership with CNOOC (45%), Sapetro (15%), Prime 130 (16%) and the Nigerian National Petroleum Company Ltd as the concessionaire of the PSC. #Nigeria: Production Commences at Akpo West Field –TotalEnergies#

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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