Funsho Kupolokun News

Nigeria's deep offshore fields showed more promise for oil finds than fields closer to shore, a senior Nigerian official said. Of the 18 wells drilled recently in Nigerian waters less than 1,000 m deep, 11 were dry. Of the 11 drilled in water over that depth, only two were dry, Funsho Kupolokun, special adviser on oil to Nigerian President Olusegun Obasanjo, said. Kupolokun said Nigeria expects to extract up to 850 trillion barrels from only four of its deep offshore fields. This included 250 trillion barrels from Bongo, Agbami and Erha and a further 50 trillion barrels from the Abo field, he said. Most seismic testing was still being carried out in the Niger Delta but there was "immense potential" in turbidites and deep sea sand, he said.