OGJ Newsletter

11/26/2012
GENERAL INTEREST — Quick Takes Total to sell stake in block offshore Nigeria Total SA has agreed to sell its 20% interest in OML 138 offshore Nigeria, where production began from Usan oil field in February, to a wholly owned subsidiary of China Petrochemical Corp. (Sinopec) for $2.5 billion cash before closing adjustments (OGJ Online, Feb. 24, 2012). Total E&P Nigeria Ltd., operator of the block, developed Usan with 42 wells connected to a spread-moored floating production, storage, and offloading vessel. The field is in 750-850 m of water 100 km offshore southeastern Nigeria. The FPSO can process 180,000 b/d and store 2 million bbl of crude oil. The sale is subject to approval by t...
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