XOM - TotalEnergies Initiates Work on Ubeta Gas Field in Nigeria | Benzinga
TotalEnergies SE (NYSE: TTE), along with the Nigerian National Petroleum Corporation Ltd ("NNPCL"), has taken the final investment decision for the development of the Ubeta gas field. TTE is the operator of the OML 58 onshore license in Nigeria with a 40% interest, while NNPCL holds the remaining 60%.
The OML 58 license, situated in Rivers state and around 49.7 miles (80 km) northwest of Port Harcourt, includes the two producing fields — the Obagi oil field and the Ibewa gas and condensate field. The Obite treatment center processes the OML 58 gas production, which is then sent to the Nigeria LNG (NLNG) facility as well as the country's domestic gas market.
The Ubeta gas condensate field will be developed with a new 6-well cluster connected to the existing Obite facilities through a 6.8 miles (11 km) buried pipeline. With a plateau of 300 million cubic feet per day (about 70,000 barrels of oil equivalent per day including condensates), the production is anticipated to begin in 2027. Ubeta gas will be delivered to NLNG, a Bonny Island liquefaction plant where TotalEnergies owns a 15% stake and is currently expanding its capacity from 22 to 30 metric tons per annum (Mtpa).
Focus of TotalEnergies in the LNG Chain
TTE benefits from an integrated position across the LNG value chain, including production, transportation, access to more than 20 Mtpa of regasification capacity in Europe, trading and LNG bunkering.
TotalEnergies' global LNG portfolio was ...