A boost is on the horizon for Nigeria’s crude oil production output as TotalEnergies and its partners yesterday announced the start of production from the Akpo West field on the PML2 licence.
The oil field, located 135 kilometres off the coast, is tied to the Akpo Floating Production Storage and Offloading (FPSO) facility, which started in 2009 and produced 124,000 barrels of oil equivalent per day in 2023.
According to a statement by TotalEnergies, by mid-2024, Akpo West would add 14,000 barrels of condensate production per day, to be followed by up to four million cubic meters of gas per day by 2028. It further stated that the Akpo West development leverages the existing Akpo facilities to keep costs low and minimise greenhouse gas emissions, with a carbon intensity projected to be below 5 kg CO2e/boe.
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“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 the Senior Vice President Africa, Exploration and Production at TotalEnergies, Mike Sangster, adding that added that: “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 percent interest, in partnership with CNOOC, 45 percent; Sapetro, 15 percent; Prime 130, 16 percent and the Nigerian National Petroleum Company Ltd as the concessionaire of the PSC.
