France's TotalEnergies Extends Production License For Oil Block In Nigeria For 20 Years

MOSCOW (UrduPoint News / Sputnik - 29th May, 2023) French energy giant TotalEnergies announced on Monday an extension of a license for oil production at the OML130 block in Nigeria for 20 years, as well as the company's plans to develop the Preowei field.

"TotalEnergies, operator of OML130 in Nigeria, announces the renewal of the production license on this block for 20 years," the company said in a statement on its official website.

The company also said that it would develop the Preowei field within the block.

"Through the OML130 license renewal, TotalEnergies is pleased to continue its contribution to the development of Nigeria's oil and gas sector. This 20-year extension will enable us to move forward with the FEED studies on the Preowei tie-back project which aims to valorize a discovery using existing facilities in line with Company's strategy focusing on low-cost and low-emission assets," Henri-Max Ndong-Nzue, senior official at TotalEnergies, said in the statement.

The OML130 block is located 150 kilometers (93.2 miles) off the Nigerian coast and contains Akpo and Egina fields, launched in 2009 and 2018, respectively. In 2022, the bloc's production amounted to 282,000 barrels of oil equivalent per day, while the volume of gas supply, which was sent to a Nigerian LNG plant, was estimated at nearly 30%.