Oil And Gas Industry
Exploration & Production
has principal: Famfa Oil Limited
has principal: Government of Nigeria
has principal: Texaco (Nigeria) Plc
Texaco and partners continue to evaluate the deepwater Agbami structure (OPL 216) follwing the success of its Agbami 1 well that indicates an oil field with reservesw of more than 1 bboe. The structure covers 45,000 acres. The Agbami-2 appraisal well, drilled by the Glomar Explorer drillship on OPL 216 in 4,800-ft waters, confirmed the structure as a giant with potential recoverable reserves in excess of one billion bbl of oil equivalent. Tests suggest that the Agbami discovery will likely rank among the largest single finds to date in deepwater West Africa. The operator envisions a spar or TLP development in conjunction with an FPSO and subsea scheme with up to 20 completions. The project is expected onstream in 2003.