TotalEnergies is poised to make a game-changing investment in Nigeria’s oil and gas sector with the Final Investment Decision (FID) on UBETA Oil Mining Lease, OML 58, expected in Q1 2024.
As Nigeria seeks to attract more investment in its oil and gas industry, TotalEnergies’ upcoming FID announcement at the Nigerian Association of Petroleum Explorationists (NAPE) International Conference and Exhibition is generating excitement. Emmanuel Ekut, Deputy General Manager and Sub-Surface Development Integrator, shared the company’s optimism, stating that they anticipate the FID for UBETA OML 58 in the first quarter of the coming year.
The UBETA OML 58 project is set to significantly boost gas supply to the Nigerian Liquefied Natural Gas (NLNG) Plant while also catering to domestic gas needs. TotalEnergies views this project as a vital component of its response to the Federal Government’s gas commercialization and domestic utilization initiative.
This initiative aligns perfectly with Nigeria’s Decade of Gas Policy, which aims to position the nation as a regional gas hub, offering economic opportunities and sustainable energy solutions.
OML 58 is strategically located in the Eastern Niger Delta, just 30 kilometers northwest of Port Harcourt, Rivers State. It stands as the sole onshore OML within the NNPC/TotalEnergies Joint Venture and encompasses five fields: Erema, Olo, Ubeta, Obagi (one of the largest fields in Nigeria), and the Ibewa gas/condensate field. Liquids extracted from OML 58 are gathered at Olo and Obogu before entering the Shell-operated Trans Niger Pipeline (TNP) system at the Rumuekpe manifold.
TotalEnergies’ commitment to this project signifies a significant step forward in Nigeria’s journey toward energy self-sufficiency and regional leadership in the gas sector.
Source: [Vanguard]
