Total Wins Nigerian Deal

French giant Total has signed an agreement with Nigeria's Conoil Producing to farm into the deepwater OPL 257 license, securing a 40 percent interest.

The Nigerian Government has approved the transaction for the 372km² area, which is 150km offshore in water depths ranging from 1,600m to 1,800m.

Conoil remains the operator with a 50 percent interest, with a local company holding the remaining ten percent.

Total's offshore operated production in Nigeria currently comes from the Amenam, Ofon and Odudu fields.

The company is currently developing the Akpo field in OML 130, due to come on stream during winter 2008-09, which will reach a production plateau of 225,000 barrels of oil equivalent per day.

By Ozge Ibrahim