Nigeria prides itself in being the Giant of Africa mostly because of the sheer size of its exploding population but the country does come first in several other respects, one of which is founded on its oil and natural gas reserves.
Throughout the continent, Nigeria reigns supreme as the holders of the largest natural gas reserves in Africa and new development has seen the country cement its place even further on that front.
Italy’s Eni has made a significant natural gas find in the Niger Delta. The oil exploration company said the reservoir is estimated to hold about 1 trillion cubic feet of gas and 60 million barrels of associated condensate.
The new discovery by Eni can deliver more than 100 million standard cubic feet/day of gas and 3,000 barrels/day of associated condensates and will be immediately put on-stream to boost Nigerian Agip Oil Company (NAOC)’s gas production.
Eni discovered the well at the Obiafu-41 Deep Well; Nigeria’s Oil Mining Lease (OML) 61 Bloc. The well has reached a total depth of 4.374 m, bringing up important gas and condensate accumulation within the deltaic sequence of Oligocene age comprising more than 130m of high-quality hydrocarbon-bearing sands.
“The discovery is part of a drilling campaign planned by NAOC JV and aimed at exploring near-field and deep pool opportunities as an immediate time to market opportunities,” Eni said in a statement. The oil firm also added that production can commence immediately.
Through its affiliate, Nigerian Agip Oil Company, Eni jointly owns the Obiafu-Obrikom fields, in OML61, onshore Niger Delta, with the Nigerian National Petroleum Corporation (NNPC), Oando, and operator; all of whom own different stakes.
Nigeria’s oil reserves is expected to reach 203 trillion cubic feet with the discovery of the new oil well, consolidating on the position of the West African nation as host to the largest gas reserves in Africa, though S&P quoted Shell in a report that suggested only about 25 percent of those reserves are either being produced or currently under development.
Featured Image Courtesy: bbc.com