Emmanuel Ibe Kachikwu, the Minister of State, Petroleum Resources, has said that the Egina FPSO project, once commissioned this month, will increase Nigeria’s daily crude oil production by 200, 000 barrels.
He said that already, the project has been completed since August, and had been awaiting commissioning.
Kachikwu, who spoke during a programmes tagged “Three years of key achievements and staff award 2016-2018” at the weekend, added that the national crude oil reserves had increased to 37.2 billion barrels at the of 2017.
He said: “In terms of new projects, the Egina FPSO has been completed and sailed away in August 2018. Once commissioned in December 2018, the giant development will add about 200,000 barrels per day of oil to national production.”
Egina FPSO (Floating Production Storage and Offloading) is a massive vessel, an ultra-deep offshore project, built by oil and gas giant, Total, located some 130 kilometres off the coast of Nigeria at water depths of more than 1,500 meters.
Kachikwu said the 37.2 billion barrels increase in reserves at the end of 2017, was due largely to the discovery of the Owowo field in deepwater OML 139 with an estimated 1 billion barrels of oil reserve.
According to him, crude oil production level had been sustained above average two million barrels per day in 2018, an improvement of over 1.8 million barrels per day and 1.86 million barrels per day recorded in 2016 and 2017 respectively.
Kachikwu said the ministry had initiated and completed the repair of vandalised 48 Forcados Oil Terminal (FOT) Export pipeline leading to resuscitation of over 300kbop in deferred production that lasted over one year.
The minister stated that within the period under review, repairs of the vandalised 42 was completed, even as the accidented 36” QIT Export pipelines leading to restoration of production operations from NNPC/MPN JV Operations.
“Current production is about 250kopd; this is expected to ramp-up post completion of revamp Program Project (RPP) and resumed drilling campaign to the glory days of 400kbopd.”
Joseph Akinlaja, Chairman, House of Representatives Committee on Petroleum (Downstream), commended the minister, stressing that Nigerians were going into Christmas without the usual fuel scarcity.
He, however, urged the minister to ensure that oil marketers get their pay as promised.