Wednesday, 22 February 2012 at 18:59, Bloomberg
Nigeria, Africa’s largest oil producer, is the fifth- biggest source of US imports. (REUTERS)
Total SA, Europe’s third-biggest energy producer, said its Usan offshore oil field in Nigeria will start production by the end of March at a rate of 180,000 barrels a day.
The company’s Egina field now under development is “progressing well” and will also have a similar capacity, Guy Maurice, managing director of Total Exploration and Production Nigeria, told reporters today in Abuja, the capital.
Paris-based Total expects output to rise an average of 2.5 per cent a year from the end of 2010 to 2015 with production starting this year at the Usan project in Nigeria and Angola LNG. By 2015, Total will have added 600,000 barrels of oil equivalent a day with 25 startups, Chief Executive Officer Christophe de Margerie said February 10.
Nigeria, Africa’s largest oil producer, is the fifth- biggest source of US imports. Royal Dutch Shell Plc, Exxon Mobil Corp, Chevron Corp, Total and Eni SpA operate joint ventures with the state-owned Nigerian National Petroleum Corp that pump about 90 per cent of the country’s crude.
Output from Nigeria’s deep offshore waters account for about 700,000 barrels a day, less than a third of the average daily production of 2.39 million barrels by the West African nation last year, according to the Petroleum Ministry.
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