March 2, 2024
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OIL & GAS

NNPC Ltd. Announces Successful Commencement of Oil Production from Akpo West Field

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has proudly declared the commencement of oil production from the Akpo West Field, in alignment with President Bola Ahmed Tinubu’s directive to optimize production from the nation’s oil and gas assets.

The milestone, announced on the company’s official X handle, is set to contribute 14,000 barrels per day condensate to the nation’s oil production. Furthermore, it is projected that by 2028, the field will produce approximately 4 million cubic meters of gas per day.

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 through a subsea tie-back, ensuring cost efficiency and minimizing greenhouse gas emissions.

“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 goals of the President Tinubu administration,” the company said.

Located 135 kilometers offshore, Akpo West is among the discoveries on PML 2, strategically positioned near Akpo Main, which commenced production in 2009 and yielded 124,000 barrels of oil equivalent per day in 2023.

PML 2 is operated by TotalEnergies, holding a 24% interest, in collaboration with CNOOC (45%), Sapetro (15%), Prime 130 (16%), and the Nigerian National Petroleum Company Ltd. as the concessionaire of the Production Sharing Contract (PSC).

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