Eni announces huge gas, condensates discovery onshore Nigeria’s Niger Delta

FILE PHOTO: The Headquarters of the ENI energy company | Photographer: Chris Warde-Jones/Bloomberg News
FILE PHOTO: The Headquarters of the ENI energy company | Photographer: Chris Warde-Jones/Bloomberg News

Italian oil giant, Eni, Tuesday announced the discovery of huge gas and condensate find in its Obiafu-Obrikom oil fields in oil mining lease (OML61) onshore Niger Delta region.

The company said the find was about one trillion cubic feet of gas and 60 million barrels of associated condensate.

The discovery was through its Nigerian upstream affiliate, the Nigerian Agip Oil Company (NAOC), which is the holder of 20 per cent equity and operator of the joint venture between Eni, the Nigerian National Petroleum Corporation (NNPC) 60 per cent and Oando 20 per cent.

A statement by Eni said the Obiafu-41 Deep well reached a total depth of 4.374 metres encountering an important gas and condensate accumulation within the deltaic sequence of Oligocene age comprising more than 130 metres high-quality hydrocarbon-bearing sands.

The company said gas find amounts to about one 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 per day of gas and 3,000 barrels per day of associated condensates, and will be immediately put on-stream to increase NAOC’s gas production,” the company said.

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

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 kilometers in the onshore and offshore areas of the Niger Delta.

In 2018, Eni’s equity to the joint venture hydrocarbon production amounted to 100,000 barrels of oil equivalent per day.

The company has, however, been enmeshed in various scandals in its Nigerian operations.

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The company and its top officials are being prosecuted in Italy and Nigeria for their roles in the Malabu OPL 245 scandal where about $1 billion was paid into accounts controlled by a former Nigerian oil minister, Dan Etete.

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