TotalEnergies Secures 20-Year Renewal for OML130 Production License in Nigeria

TotalEnergies Secures 20-Year Renewal for OML130 Production License in Nigeria

(IN BRIEF) TotalEnergies has successfully renewed the production license for OML130 block in Nigeria for an additional 20 years. The block, located off the Nigerian coast, is home to the productive Akpo and Egina fields. In 2022, the block produced 282,000 barrels of oil equivalent per day (boe/d), with a significant portion being gas supplied to the Nigeria LNG plant. The license renewal ensures continued production and development activities in the block, including the upcoming Akpo West project and the Preowei discovery tie-back to the Egina FPSO. TotalEnergies operates OML130 with a 24% interest, alongside CNOOC, Sapetro, Prime 130, and the Nigerian National Petroleum Company Ltd.

(PRESS RELEASE) PARIS, 29-May-2023 — /EuropaWire/ — TotalEnergies (EPA:TTE), a global multi-energy company with over 100,000 employees and presence in more than 130 countries as well as the world’s 3rd-largest low-carbon LNG company, and the operator of OML130 in Nigeria, has announced the renewal of the production license for this block, extending it for an additional 20 years.

Located 150 kilometers off the Nigerian coast, the OML130 block is home to the highly productive Akpo and Egina fields, which commenced production in 2009 and 2018, respectively. In 2022, the block achieved a production rate of 282,000 barrels of oil equivalent per day (boe/d), with approximately 30% of the production consisting of gas supplied to the Nigeria LNG plant, making a significant contribution to Europe’s energy security. The Akpo West project, a short-cycle initiative, is set to commence production by the end of 2023. Additionally, the OML130 block encompasses the Preowei discovery, which will be developed through a tie-back to the Egina floating production storage and offloading (FPSO) vessel.

“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”, said Henri-Max Ndong-Nzue, Senior Vice President Africa, Exploration and Production at TotalEnergies.

TotalEnergies Upstream Nigeria Limited holds a 24% interest and serves as the operator of OML130 in partnership with CNOOC (45%), Sapetro (15%), Prime 130 (16%), and the Nigerian National Petroleum Company Ltd as the concessionaire of the Production Sharing Contract (PSC).

About TotalEnergies in Nigeria

TotalEnergies has been present in Nigeria for more than 60 years and employs today more than 1,800 people across different business segments. The Company produced 204,000 boe/d in 2022 in the country, making it one of the largest contributors to TotalEnergies’ hydrocarbon production. Its participation in Nigeria LNG, where construction of a 7th train is in progress, contributes to the Company’s global LNG portfolio. TotalEnergies also operates an extensive distribution network which includes about 540 service stations in the country. In all its operations, TotalEnergies is particularly attentive to the socio-economic development of Nigeria and is committed to working with local communities.

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in nearly 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.

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Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

SOURCE: TotalEnergies