Egina FPSO Sails to Offshore Field
The $3.3 billion Floating Production Storage Offloading (FPSO) unit built by Samsung Heavy Industries of Korea (SHI) for the 200,000 barrels per day capacity Egina oilfield began to sail to the oilfield Sunday, reports local media.Following fabrication and integration works in Lagos, the FPSO will arrive in three days’ time at the Egina oilfield located in Oil Mining Lease (OML) 130, which is being developed at the cost of $16 billion by the French oil major, TotalT.Nicholas Terraz, managing director, Total Upstream Companies in Nigeria, Ahmadu-Kida Musa, deputy managing director, deep water, Total Exploration and Production Nigeria…
CNOOC Signs $2.268B Agreement with SAPETRO
CNOOC Limited signed a definitive agreement with South Atlantic Petroleum Limited to acquire a 45 percent working interest in an offshore oil mining license ''OML 130'' in Nigeria for $2.268 billion, subject to adjustments. The purchase will be funded from the internal resources of CNOOC Ltd. OML 130 is covered by both a Production Sharing Agreement and a Production Sharing Contract, each of which governs a 50 percent interest in OML 130. SAPETRO is currently the sole contractor and sole interest holder in the PSC. Under the agreement, CNOOC will be acquiring a 90 percent interest in the PSC and hence, a 45 percent working interest in OML 130. Located in Nigeria, the world's fifth largest crude oil exporter, the Niger Delta region is one of the world's most prolific oil and gas basins.
