By OGJ editors
HOUSTON, Feb. 25 -- ChevronTexaco Corp., operator of the 1998 Agbami discovery in deep water off Nigeria, let a contract to Daewoo Shipping and Maritime Engineering Corp. for a 7-billion-kroner production and storage ship to be used in the field's development.
Production, scheduled to start in late 2007, is expected to peak at 250,000 b/d. The 45,000-acre Agbami field, which spans Blocks OPL 216 and OPL 217, has reserves of 800 million bbl.
Development of the field proceeded after the Nigerian government approved the development plan and signed a unitization agreement with licensees of both blocks.