First Oil Expected In Dec. From Total’s 200,000bpd Egina Project

With the arrival of the $3.3 billion Egina FPSO, the project would be delivered as scheduled with the first oil expected by December this year, Total Upstream Nigeria Limited (TUPNI) has said.
Egina project is located in Oil Mining License (OML) 130 and is the largest oil and gas development currently on-going in Nigeria. The Field is being developed by TUPNI in partnership with the Nigerian National Petroleum Corporation (NNPC), CNOOC, SAPETRO and PETROBRAS.
The project was launched in 2013 and is expected to start production in the Q4 2018. It is expected to add 200,000 barrels per day (bpd) to Nigeria’s oil production or approximately 10 per cent of the country’s total oil production.
The budgeted cost of $15.7 billion for the Egina project since the final investment decision was made in 2013 was not reviewed upwards, Total Managing Director, Mr Nichola Terraz told the Senate Ad-Hoc Committee on Investigation of Local content Elements of the Egina Oil field and other related projects, Tuesday in Abuja.
Terraz said that the Egina FPSO would be arriving SHI-MCI yard in Lagos adding that it was a key milestone for the project and would be the first time FPSO would berth at quay side in Nigeria for lifting and integration of locally fabricated modules.
Terraz said, “Egina project has recorded many fists in the area of Nigeria content development being in the first project of the magnitude since the enactment of the NOGICD Act.
The Senate has called for a value-for-money audit of the Egina FPSO ‎ contract. Chairman of the Senate Ad-Hoc Committe‎e, Senator Adeola Solomon, said the audit became necessary to establish the actual cost of the projects and to ascertain the implications of the project to the company.
The essence of the investigations, he said, was to guide the country in making decisions on similar projects in the future. “Until that audit is done, no other contracts of this nature would be supported by this Senate,” Senator Adeola said.


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