Total Takes Over Nigerian Oil Prospect

Multinational energy company Total has announced its Nigerian subsidiary, Elf Petroleum Nigeria, has completed a takeover of the Chevron-operated deep offshore Oil Prospecting Lease OPL 247.

The 36% stake in the lease OPL 247 lies about 150km offshore southeast Nigeria, in water depths of 1,000m to 1,500m.

Total says 3D seismic data has been collected and is being interpreted to prepare drilling of an initial well.

The acquisition extends Total's operations in deep offshore Nigeria which include oil mining lease OML 130 (Akpo and Egina), OPL 221 and OPL 222.

Last week the company announced a 40% stake in Nigerian OML 136 after signing an agreement with Nigerian oil company Conoil.

Report by staff writer