NAPIMS Boss, Wunti Visits Akpo, Egina Oil Fields, Commends Workers Commitment To NNPC’s Energy Security Agenda

The Group General Manager, National Petroleum Investment Management Services (NAPIMS),
Mr Bala Wunti, has commended the dedication and professionalism of workers at the Akpo and Egina Oil Fields.

Wunti who made the commendation during a visit to the facility, expressed optimism that with the dedication of the workers at the field, the aspiration of the Nigerian National Petroleum Company Ltd to ensure energy security for the country would be achieved.

His visit was in line with the directive issued by the Group Chief Executive Officer of the NNPC, Mele Kyari to grow reserves, increase production, improve profitability and operational efficiency.

Located about 130 kilometers off the coast of Nigeria at water depths of more than 1,500 meters, the Egina oil field is one of the most ambitious ultra-deep offshore projects. Primarily developed locally to accelerate the pace of Nigeria’s industrial fabric and the transfer of technology, the project has the capacity to produce 200,000 barrels of oil per day, which is close to ten per cent of the country’s total oil production.

Discovered in 2003, the Egina field is located at water depths of between 1,400 and 1,700 meters, 200 kilometers offshore from Port Harcourt.

It is operated by TotalEnergies, which has a 24 per cent stake, in partnership with NNPC, CNOOC, Sapetro and Petrobras.

For the Akpo field, it is located in ultra deepwater of Nigeria. Situated on OML 130 approximately 200 kilometres (124 mi) from Port Harcourt, Akpo’s water depths range from 1,100 to 1,700 metres (3,600 to 5,600 feet).

Developed in 2000, the gas and condensate field, Akpo is operated by Total, holding a 24 per cent interest in the project. Other participants in the license include CNOOC, Petrobras, NNPC and Sapetro.

Wunti said the visit accorded the NAPIMS management the opportunity to interact with the staff and it’s partners, adding that they were impressed by their professionalism and commitment to the aspirations of the NNPC Ltd in line with the Petroleum Industry Act 2021 and the newly signed Petroleum Sharing Contract.

He said, ” In line with the directive of the Group CEO @MKKyari to grow reserve, increase production, improve profitability and operational efficiency (including cost reduction), the NAPIMS Management team visited the Akpo and Egina fields to engage with the staff and the operators.

“The visit accorded us the opportunity to interact with the staff and our partners where we commended them for their professionalism and commitment to the aspirations of the NNPC Ltd in line with the PIA 2021 and the newly signed PSCs.

“During our engagement, we explored various opportunity areas for deeper collaboration and mutual support to achieve our collective goals.”

Wunti had made similar visit last Month to the Erha Floating Production Storage and Offloading facility.

The Erha is located in Oil Mining Lease 133 and operated by NAPIMS Contractor ESSO.

It has a storage capacity of 2.2 million barrels of oil, an initial production capacity of 165,000 barrels of oil per day and accommodates up to 100 personnel.

A catenary anchor-leg-mooring buoy is used for crude-carrier docking and product transfer

The vessel hull, which was constructed in Korea, measures 285 meters in length, 63 meters in width and 33 meters in depth

The Nigerian National Petroleum Company Ltd had on August 12 sealed five strategic agreements with oil about eight Oil Majors in the country that would unlock huge investments in the oil and gas sector in the country.

The agreements are the Production Sharing Agreement, Dispute Settlement Agreements, Settlement Repayment Agreement, Escrow Agreement.

Some of the Companies are Total Energy, Chevron, Shell, Esso Exploration, Synopec, Equino, Sapetro, Sinoc

The deal which covers five Oil Mining Licences (OMLs 128, 130,132, 133, and 138) is expected to unlock over $500bn revenue for the country in the oil and gas sector and ensure energy security for Nigeria.