French oil company Total is reportedly preparing to make a Final Investment Decision for its Ikike field development offshore Nigeria. This is according to the Nigerian news website Vanguard.
Vanguard on Monday said that a Total Nigeria executive gave the Ikike FID indication during last week’s arrival ceremony in Lagos for Total’s 200,000 bpd Egina FPSO.
Nicolas Terraz , CEO at Total E&P Nigeria, reportedly said Total’s next project in Nigeria would be the Ikike, in cooperation with Nigeria’s NNPC.
“We have not started yet. We are studying security issues. We are working with NNPC to reach the FID,” Vanguard cited Terraz as saying.
The Ikike field is located in the OML 99 license offshore Nigeria, with Total being the operator with a 40 percent stake. The project is expected to be developed as a tie-back to Amenam (5 wells) platform.
If the FID is made in 2018 the field is expected to start production in 2020 at a rate of 45 thousand barrels of oil per day. The field is estimated to hold reserves of 70 million barrels of oil equivalent.
Offshore Energy Today Staff