Total: starts production on Egina field
(CercleFinance.com) - Total announces that on 29 December it started up production on the Egina field, located 150 kilometres off the coast of Nigeria.
Discovered in 2003, this field will produce 200,000 barrels of oil per day on the plateau, or nearly 10% of the country's production.
The Floating Production Storage and Offloading (FPSO) unit used to develop the giant Egina field is the largest one Total has ever built.
This startup was occurred at a cost that is nearly 10% less than the initial budget, saving over one billion dollars. "Egina will significantly boost the Group's production and cash flow from 2019 onwards," the head of Exploration & Production said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Discovered in 2003, this field will produce 200,000 barrels of oil per day on the plateau, or nearly 10% of the country's production.
The Floating Production Storage and Offloading (FPSO) unit used to develop the giant Egina field is the largest one Total has ever built.
This startup was occurred at a cost that is nearly 10% less than the initial budget, saving over one billion dollars. "Egina will significantly boost the Group's production and cash flow from 2019 onwards," the head of Exploration & Production said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.