Exploitation of oil from Akpo West Field begins

The Nigerian National Petroleum Company Limited (NNPC Ltd) says the Akpo West, a Petroleum Mining Lease (PML) 2 (formerly OML 130), has started production of 14,000 barrels of oil per day.

A statement by NNPC’s Chief Corporate Communications Officer, Olufemi O. Soneye, stated that the oil field is operated by operated by TotalEnergies 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 Production Sharing Contract (PSC).

“To optimise production from the nation’s oil and gas assets, the Company has announced the successful commencement of oil production from the Akpo West Field,” he said as reported by Daily Trust.

Soneye said the milestone, which is the result of meticulous planning, strategic collaboration, and unwavering dedication from all stakeholders involved in the project, will add 14,000 barrels per day of condensate to the nation’s production.

“This will be followed up by the production of about 4million cubic meters of gas per day by 2028. The development of Akpo West which is on Petroleum Mining Lease (PML) 2 (formerly OML 130) leverages the existing Akpo Floating Production Storage and Offloading (FPSO) facility via a subsea tie-back to keep costs low and minimize greenhouse gas emissions.”

He added that the milestone was enabled by the strategic leadership of the Group Chief Executive Officer (GCEO), Mr. Mele Kyari, and the Upstream Directorate of the NNPC Ltd whose support played no small role in propelling the operators to actualise the short- and mid-term hydrocarbon production.