Total optimistic to make Preowei FID in the coming months
• Delivered 3 FPSOs in the last 10 years in Nigeria oil & gas industry
• Achieved 77% Nigerian Content on EGINA FPSO Project
By Ndubuisi Micheal Obineme
French oil major Total is working on sanctioning the development of its Preowei project in Nigeria in 2019.
Speaking at the 2019 Nigeria Oil & Gas Opportunity Fair in Yenegoa, Managing Director of Total E&P Nigeria, Mr. Nicholas Terraz, who was represented by Alex Aghedo, Coordinator, Contracts & Procurement and Nigerian Content, Total Upstream Companies in Nigeria, said that the company will make the Final Investment Decision on the Preowei project this year if everything goes according to plan.
According to him, Total has delivered 3 FPSOs in the last 10 years and these FPSOs are producing. The EGINA FPSO is a flagship project for Africa which started production since December 2018. It is a big project that is been talked about at major industry events and it is referred as a major achievement in Nigeria oil and gas industry.
“We have just finished with EGINA and it is expected to be producing 200,000 barrels of oil per day but as you all know that the dynamics of the reservoir means that after sometime we will not be able to keep EGINA to producing oil at that level.
“What we need is to have a project that will feed in for EGINA. Preowei is the first one that we want to put into production. And, we are working with DPR to be able to get the necessary approvals for this project,” he said
“The Executive Secretary of NCDMB, Engr. Simbi Wabote, and his team have been very helpful to get this project running because we need to keep EGINA full.
“Preowei project is currently in progress as i have mentioned. It is going to be a Subsea tie back to the Egina FPSO and hopefully if everything goes according to plan, we want to make the FID this year.
“And, if that is achieved, by 2021/2022, it will start production and we also expect other project to come on stream that will help us feed EGINA which will take us to the next big projects as some of this projects are still on the pipeline,” he added
Preowei oil field is located on Oil Mining Lease (OML) 130, about 25 kilometers North of Egina field with water depth of 1150 meters.
Preowei is the third producible oil accumulation in OML 130, which hosts the giants Akpo (in production since 2009) and Egina (in production since 2018).
TOTAL Upstream Nigeria Limited operates OML 130 with a 24% interest, in partnership with Nigerian National Petroleum Corporation (NNPC), South Atlantic Petroleum (SAPETRO), CNOOC Limited and Petrobras.
