Dangote Group is looking to start production at its two Nigerian oil assets in the fourth quarter of 2024, after enduring months of crude supply woes, a report by S&P Global Commodity Insights has said.
The report quoting company sources said Dangote is currently seeking a Floating Production Storage and Offloading (FPSO) vessel with a capacity of 650,000 barrels of crude.
The company holds an 85% stake in West African E&P Venture, which in turn has a 45% working interest in the two blocks, alongside the state-owned Nigerian National Petroleum Company’s 55%
The other stakeholder in West African E&P is Nigerian upstream player First E&P, which operates OMLs 71 and 72.
The licenses are located in the shallow water in the southeast of the troubled Niger Delta, just 22 km from the onshore Bonny terminal. They contain the Kalaekule and Koronama oilfields
No comments:
Post a Comment