Eni’s new gas, condensate find in Niger Delta will add 1.0trn gas, 60m condensate to Nigeria’s reserves

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Eni, through its affiliate Nigerian Agip Oil Company (NAOC), has made a significant gas and condensate find in the deeper sequences of the Obiafu-Obrikom fields, onshore Niger Delta, Eni announced in a statement on Tuesday.

In a statement obtained by Naija247news.com, the company stated: “Eni, through its affiliate NAOC (Eni 20%, operator, NNPC 60%, Oando 20%) has made a significant gas and condensate find in the deeper sequences of the Obiafu-Obrikom fields, in OML61, onshore Niger Delta.

“The Obiafu-41 Deep Well has reached a total depth of 4.374m, encountering an important gas and condensate accumulation within the deltaic sequence of Oligocene age comprising more than 130m of high-quality hydrocarbon-bearing sands.

The find amounts to about 1 trillion cubic feet of gas and 60 million barrels of associated condensate in the deep drilled sequences.

“The discovery has further potential that will be assessed with the next appraisal campaign.

The well can deliver in excess of 100 million standard cubic feet/day of gas and 3,000 barrels/day of associated condensates, and will be immediately put on-stream to increase NAOC’s gas production.”

It added: “The discovery is part of a drilling campaign planned by NAOC JV and aimed at exploring near-field and deep pool opportunities as an immediate time to market opportunities.

Eni has been present in Nigeria since 1962, with operated and non-operated production, development and exploration activities on a total of 30,049 square kilometres in the onshore and offshore areas of the Niger Delta.

In 2018, Eni’s equity hydrocarbon production amounted to 100,000 boe/day.”

The companhttpsy officials could not be reached immediately for more comments, but stakeholders in Nigeria’s oil and gas industry said the feat would culminate in increased reserves and production capacity.

Eni has been present in Nigeria since 1962, and the company through its affiliate NAOC holds a 20% stake in the asset as operator, while state-owned Nigerian National Petroleum Corporation (NNPC) holds the majority 60% interest, and African energy company Oando holds a 20% share.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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