TotalEnergies Boosts Nigeria's Oil Output with New Gas Projects
TotalEnergies, a French energy giant, is set to boost Nigeria's oil output by 140,000 barrels per day (bpd) following President Bola Tinubu's policies aimed at encouraging investments in gas projects. The company's Ubeta deepwater project and Ima shallow water offshore field are expected to achieve first oil production in 2027 and the fourth quarter of 2028, respectively.
The incentives provided by Tinubu's administration in 2023/2024 led TotalEnergies and other operators to launch new deepwater projects on gas. The Ubeta and Ima fields can produce up to 70,000 barrels of oil equivalent per day (boepd), which is about 300 million standard cubic feet per day (scf/d) of gas.
The two projects are expected to boost gas supply to the nearby Nigeria LNG Limited. TotalEnergies' Deputy Managing Director for Deepwater Assets, Mr. Victor Bandele, explained that the incentives provided by Tinubu's administration improved project delivery and encouraged local content participation.