Port Harcourt, Nigeria | – The Nigerian National Petroleum Corporation, NNPC, has projected a 200,000 barrels per day increase in Nigeria’s crude oil production by the first quarter of 2018 with the commissioning of the Umblical Flow-lines and Risers (UFR) for the new $16 billion Egina Deep Offshore Project.
The Group Managing Director of the NNPC, Mr. Maikanti Baru, speaking during the Load out Ceremony of the UFR for the Egina project by Saipem Contracting Nigeria Limited, in Port-Harcourt, disclosed that the module will guarantee the drilling of the first oil from the 200, 000 barrels per day Egina field by the first quarter of 2018. The GMD also restated the commitment of the corporation to the development of Nigerian content in the oil and gas industry.
Also speaking, Managing Director of Total, Nicholas Terraz, said the Egina project was the largest contributor to the development of Nigerian content in the oil industry, being the largest offshore project currently going on in the country.
The Egina ultra-deepwater project is operated by French Total SA, which has a stake of 24 percent in the development. Its partners in the venture are Chinese CNOOC and Petrobras Sapetro. The total value of the project is estimated at US$16 billion, with the floating production storage and offloading vessel to be installed at the field alone costing US$3.3 billion.