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December 6, 2021updated 27 Apr 2022 11:59am

Akpo (PSC) Conventional Gas Field, Nigeria

By Carmen

Akpo (PSC) is a producing conventional gas field located in ultra-deepwater in Nigeria and is operated by CNOOC. The field is located in block OML 130 (OPL 246), with water depth of 5,610 feet.

Field participation details

The field is owned by China National Offshore Oil and South Atlantic Petroleum.


Production from Akpo (PSC)

The Akpo (PSC) conventional gas field recovered 67.28% of its total recoverable reserves, with peak production in 2015. The peak production was approximately 75.98 thousand bpd of crude oil and condensate and 145 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2045. The field currently accounts for approximately 2% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 180.19 Mmboe, comprised of 139.35 Mmbbl of crude oil & condensate and 245.02 bcf of natural gas reserves. Akpo (PSC) conventional gas field reserves accounts 0.06% of total remaining reserves of producing conventional gas fields globally.


About CNOOC

CNOOC Ltd (CNOOC), a subsidiary of China National Offshore Oil Corp, is an upstream oil and gas company. It carries out the exploration, development, production, and sale of crude oil and natural gas. The company operates major oil fields in Bohai, Western South China Sea, Eastern South China Sea, and the East China Sea. It operates either independently or in cooperation with foreign partners through production sharing contracts. In overseas, the company holds interests in oil and natural gas blocks in Asia-Pacific, Europe, Middle East and Africa, and the Americas. CNOOC is headquartered in Beijing City, Beijing, China.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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