Nigeria is poised to witness a rise in condensate production by 14,000 barrels per day, following the commencement of operations at the Akpo West field owned by TotalEnergies.
Currently, Nigeria’s condensate production ranges between 300,000 and 400,000 barrels per day, and the addition of Akpo West’s output is expected to enhance the nation’s position in the global market, given the high demand and pricing of this light crude, akin to Nigeria’s Bonny Light.
In a joint statement, TotalEnergies and its partners announced that by mid-2024, the Akpo West field would contribute an additional 14,000 barrels of condensate production daily. Furthermore, the development plan includes a subsequent increase in gas production, reaching up to 4 million cubic meters per day by 2028.
TotalEnergies emphasizes a commitment to environmental responsibility, noting that the project’s carbon intensity is projected to be below 5 kg CO2e/barrel of oil equivalent.
Source: Business Day