By the OGJ Online Staff
HOUSTON, Jan. 2 -- ENI SPA unit Agip Energy & Natural Resources has begun production from Okono field on OML 119 in 100 m of water off Nigeria.
Agip and its partner, Nigerian Petroleum Development Co., earlier this year let a $356 million contract to a joint venture of Eni unit Saipem SPA and Single Buoy Moorings Inc. to supply, install, and operate two floating production, storage, and offloading vessels to be used on Okono and nearby field Okpoho (OGJ Online, Sept. 7, 2001).
NPDC, a subsidiary of state-run Nigerian National Petroleum Corp., will take 30% and Agip 70% for the first 5 years, after which the ratio will change to 40:60 (OGJ Online, Sept. 14, 2000).
NNPC group Managing Director Jackson Gaius-Obaseki said the corporation would enter into partnerships with other multinationals to access and develop other exploration and production zones.
