TotalEnergies Launches Akpo West Field Production, Boosts Nigeria’s Energy Sector
(IN BRIEF) TotalEnergies, along with its partners, has commenced production from the Akpo West field in Nigeria’s PML2 license area. This field, located 135 kilometers off the coast, is tied back to the existing Akpo Floating Production Storage and Offloading (FPSO) facility. Akpo West is expected to contribute 14,000 barrels of condensate production per day by mid-2024 and up to 4 million cubic meters of gas per day by 2028. Leveraging existing infrastructure helps keep costs low and reduces greenhouse gas emissions, with a carbon intensity expected to be below 5 kg CO2e/boe. TotalEnergies operates the PML2 license with a 24% interest, alongside partners including CNOOC, Sapetro, and Prime 130.
(PRESS RELEASE) PARIS, 7-Feb-2024 — /EuropaWire/ — TotalEnergies (EPA:TTE), a global multi-energy company with over 100,000 employees and presence in more than 130 countries as well as the world’s 3rd-largest low-carbon LNG company, in collaboration with its partners, proudly announces the initiation of production from the Akpo West field situated within the PML2 license area in Nigeria. Positioned 135 kilometers offshore, Akpo West is intricately linked to the existing Akpo Floating Production Storage and Offloading (FPSO) facility, which commenced operations in 2009, boasting a production rate of 124,000 barrels of oil equivalent per day in 2023. By mid-2024, the Akpo West field is projected to contribute an additional 14,000 barrels of condensate production daily, with further plans to ramp up to 4 million cubic meters of gas per day by 2028.
The Akpo West development strategy capitalizes on the pre-existing Akpo infrastructure to maintain cost efficiency and minimize carbon emissions. With an anticipated carbon intensity below 5 kg CO2e/boe, the project aligns with TotalEnergies’ commitment to reducing the overall carbon footprint of its portfolio.
Mike Sangster, Senior Vice President Africa, Exploration and Production at TotalEnergies, remarked, “Following the success of Ikike in 2022, TotalEnergies is delighted to inaugurate yet another tie-back endeavor in Nigeria, exemplified by the Akpo West project. This initiative not only sustains the operational prowess of the existing Akpo facilities but also underscores our strategy of cultivating low-cost, low-emission ventures. Leveraging TotalEnergies’ substantial presence in Nigeria, this project promises to swiftly deliver value to the country, our company, and our esteemed partners.”
TotalEnergies retains a 24% interest in PML2 as the operator, alongside CNOOC (45%), Sapetro (15%), Prime 130 (16%), and the Nigerian National Petroleum Company Ltd, serving as the concessionaire of the PSC.
TotalEnergies has been present in Nigeria for more than 60 years and employs today more than 1,800 people across different business segments. Nigeria is one of the main contributing countries to TotalEnergies’ hydrocarbon production where the Company produced 219,000 boe/d in 2023. TotalEnergies also operates an extensive distribution network which includes about 540 service stations in the country. In all its operations, TotalEnergies is particularly attentive to the socio-economic development of the country and is committed to working with local communities.
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, more sustainable, more reliable and accessible to as many people as possible. Active in nearly 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
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First published in this link of EuropaWIRE.
