TheCable

Egina, an oil field discovered by Total Upstream Nigeria Limited (TUPNI), will be completed in 2018 and is expected to create 3,000 jobs in five years.

The project is expected to add 200,000 barrels per day to Nigeria’s oil production (approximately 10% of the country’s total oil production).

The oil field located some 200 kilometres south of Port Harcourt, was discovered in 2003.

The field is being developed by Total Upstream Nigeria Ltd in partnership with NNPC, CNOOC, SAPETRO and PETROBRAS.

In a statement on Thursday, management of Egina said the project is expected to be completed with the initial budget of $16 billion.

“The floating, production, storage and offloading unit (FSPO) for the project started its journey to Nigeria,” the statement read.

“Egina is the first major deepwater development project after the Nigerian Oil & Gas Industry Content Development (NOGICD) Act was enacted in 2010.

“It also has the highest level of local content of any such project in Nigeria.

“Apart from job creation, the project is also expected to fabricate 60,000 tons of equipment in Nigeria.

“Egina’s FSPO, which is designed to process oil and gas from the field, will be berthed at the quayside in Nigeria for integration of locally fabricated modules – a first for Nigeria.”