ExxonMobil Left Them all in the Dust..Until Egina Happened-

ExxonMobil’s 437,000Barrels of Oil Per Day (BOPD) operated output in Nigeria was ahead of the closest rival by at least 80,000BOPD, according to 2018 production figures just released by the Department of Petroleum Resources (DPR).

Shell Nigeria (SPDC and SNEPCO), the one-time holder of all of the country’s concessions, operated 353,749BOPD between January 1 and December 31, 2018, the regulatory agency’s report declared.

ExxonMobil’s production is entirely offshore, with Mobil Producing, its shallow water subsidiary, operating 288,808BOPD from four acreages under the Joint Venture (JV) with NNPC, and Esso Exploration Nigeria Limited, its deepwater subsidiary, operating 189,000BOPD from two acreages under PSC terms. The largest single producing fields for the company in the period under review were the deepwater fields Erha, which averaged 114,000BOPD and Usan, which delivered 75,000BOPD.

Chevron was the third largest operator, with 305,540BOPD, and TOTAL was fourth with 245,712BOPD.

The largest producing field, in the year under review, was Chevron operated Agbami, averaging 212,000BOPD.

Two significant things have happened in the 12 months between the last day covered by this report (December 31, 2018) and the release of the report (mid-January 2020).

1), Agbami field production has considerably declined.

2). TOTAL’s inauguration of the Egina Field on New Year’s Day 2019 was a signal that ExxonMobil’s position as Nigeria’s largest volume operator was coming under severe challenge. Egina was producing at peak output of 201,000BOPD as of last week.

Even so, whereas ExxonMobil didn’t add any new field in 2019, a difference of 191,288BOPD is a lot to
overcome, even with a brand-new field that happens to be a gusher.

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