A Review of the Nigerian Energy Industry

Nigeria named among biggest deepwater producers to watch in 2019

Nigeria named among biggest deepwater producers to watch in 2019
*Nigeria’s deepwater acreage.

*As global deepwater production to surpass 10 million bb/d.

OpeOluwani Akintayo

02 February 2019, Sweetcrude, Lagos — The research firm, Rystad Energy has named Nigeria among biggest deepwater producers to watch this year.

In a research note released on Friday, it said new fields will come up Brazil and the US, Angola, Norway, and Nigeria, making the five countries the largest deepwater producers in 2019.

It said deepwater production will reach record high level and surpass 10 million bb/d.

“With new fields starting up in Brazil and Gulf of Mexico, we expect the total deepwater liquid production to reach 10.3 million bbl/d in 2019”- this is an increase of 700 kbbl/d compared to 2018.

Also Read: NDEP to commission Ogbele phase II refinery in March 2019

Already, Total’s Egina field produced its first oil, 150, 000 barrels per day in December-the crude grade found its way into January loading. The field is expected to produce 200, 000b/d at full capacity.

The firm will also formally approve to continue with the Ikike project in the first quarter of the year, according to its Chief executive of the firm, Patrick Pouyanne, who said Total sees vast potential in Nigeria and would waste no time in proceeding with the project.

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