March 1, 2024

Oredola Adeola

Nigerian Agip Exploration Ltd, a subsidiary of ENI S.p.A. has handed out another short-term contract extension to BW Offshore for one of its floating, production, storage and offloading (FPSO) vessels, to continue operation for three months, on Abo field located offshore Nigeria.

This statement from BW Offshore confirming the extension was obtained by EnergyDay on Thursday.

According to the statement the short-term extension for the Abo FPSO with Nigerian Agip Exploration, a subsidiary of Eni, will enable the FPSO to carry out operations on the Abo field until 31 March 2023.

The Abo FPSO can store 930,000 barrels of oil and comes with an oil treatment capacity of up to 45,000 bopd, a water injection capacity of 30,000 bopd, and a gas compression capacity of 48,4 mmscfd.

BW Offshore is a Norwegian engineering floating and production company operating the FPSO, has been working on the Abo field with Eni’s Agip since the start of production in 2003.

EnergyDay gathered that before the recent extension, the parties had earlier had a previous extension, secured in January 2023, which later expired on 14 January 2023.

The Abo field is located in the OML 125 license some 40 kilometres off the Nigerian coast on the western edge of the Niger Delta. It covers an area of 1,983 km² (490,010 acres), at a water depth of 550 to 1,100 metres. This field contains light sweet crude oil, typically 39° to 41° API, and natural gas.

Three fields, Abo, Abo North, and Okodo are tied back to the Abo FPSO. The license consists of  eight producing wells, two water injectors, and two gas injectors.

Nigerian Agip is the operator of the fields with 85 percent working interest, while Oando Energy Resources holds the remaining 15 percent.

Agip set the record as the first oil and gas company in Nigeria to produce from Nigeria’s deep offshore in April 2003 after successfully producing the first oil within the concession area of the Abo field, through the Abo FPSO.

Recall that the company entered into a production Sharing Contract with the Nigerian National Petroleum Corporation (NNPC) to operate OML125 and OML134 within the Abo field.