Strengthening Nigeria’s Energy Sector: TOTAL Boosts Production in Akpo West Field
French energy giant, TOTALEnergies, has recently announced the commencement of production from the Akpo West Field in Nigeria. According to the company, the field is anticipated to contribute 14,000 barrels of condensate per day by mid-2024, representing approximately 1% of the country’s total crude oil and condensate output.
The initiation of production in the Akpo West Field marks a notable achievement in the efforts to enhance the oil and gas sector in Nigeria. Despite the relatively modest increase in production, the development signifies the ongoing commitment to strengthening the country’s energy landscape.
Additionally, TOTALEnergies has projected that the Akpo West Field will yield 141 million standard cubic feet per day (141MMscf/d) of gas by 2028, making a significant contribution to the nation’s gas production. This long-term vision reflects the company’s dedication to sustainable energy practices and the continued development of Nigeria’s energy resources.
It is worth emphasizing that the Akpo West Field is linked to the existing Akpo Floating Production Storage and Offloading (FPSO) facility, which commenced operations in 2009. Furthermore, TOTALEnergies reported a total production of 124,000 barrels of oil equivalent per day in 2023, highlighting the company’s ongoing involvement and investment in Nigeria’s energy sector.
In a strategic move, TOTALEnergies also noted that the development of the Akpo West Field aligns with the Petroleum Mining Licence (PML) 2 license in Nigeria, representing a significant transition in the nomenclature of mining licenses within the country. This signifies a notable shift in the industry’s regulatory framework and demonstrates TOTALEnergies’ adherence to local regulations and guidelines.
Furthermore, the company emphasized that the Akpo West development leverages the existing Akpo facilities to maintain cost-efficiency and minimize greenhouse gas emissions. TOTALEnergies is committed to ensuring that the project’s carbon intensity remains below 5 kg CO2e/boe, aligning with their broader goal of reducing the average carbon intensity across their portfolio.
As the operator of PML2, TOTALEnergies holds a 24% interest in the project, in partnership with CNOOC (45%), Sapetro (15%), Prime 130 (16%), and the Nigerian National Petroleum Company Ltd as the concessionaire of the PSC. This collaborative approach underscores the importance of strategic partnerships in driving sustainable development and growth within the energy sector.
In conclusion, TOTALEnergies’ investment and production expansion in the Akpo West Field signify a pivotal step towards fortifying Nigeria’s energy landscape. The company’s commitment to sustainable practices, regulatory compliance, and long-term development underscores the significant role of international energy corporations in shaping the future of the nation’s energy resources.
