Nigeria’s Energy Sector Set for Growth as Akpo West Field Adds 14,000 Barrels per Day

Nigeria’s energy landscape is poised for significant expansion with the imminent commencement of production at the Akpo West field, a development expected to bolster the nation’s condensate output by 14,000 barrels per day (bpd).

The Akpo West field, owned by TotalEnergies and its partners, represents a pivotal advancement in Nigeria’s energy sector, promising to enhance the country’s position in the global oil market.

TotalEnergies, in collaboration with its partners, has unveiled plans for the Akpo West field, located on Petroleum Mining Lease (PML) 2, situated 135 kilometers off the Nigerian coast.

The field is strategically positioned to leverage existing infrastructure, minimizing costs and reducing greenhouse gas emissions.

Initial estimates indicate that the project’s carbon intensity will be below 5 kg CO2e/barrel of oil equivalent, contributing to TotalEnergies’ efforts to mitigate environmental impact.

The Akpo West development is anticipated to commence by mid-2024, marking a significant milestone in Nigeria’s energy sector.

With the addition of 14,000 bpd of condensate production, Nigeria’s total condensate output is poised to witness a notable surge.

Condensate, a highly sought-after light crude oil, commands premium prices in the global market, enhancing Nigeria’s revenue potential and economic resilience.

Furthermore, the Akpo West project underscores TotalEnergies’ commitment to sustainable energy development and innovation.

By harnessing existing infrastructure and optimizing operational efficiency, the project aims to maximize production while minimizing environmental footprint.

The launch of the Akpo West field represents a transformative moment for Nigeria’s energy sector, promising growth, innovation, and enhanced global competitiveness in the realm of oil and gas production.