BRIEF

on TOTALENERGIES (EPA:TTE)

TotalEnergies develops the Ubeta gas field in Nigeria

Stock price chart of TOTALENERGIES (EPA:TTE) showing fluctuations.

TotalEnergies and the Nigerian national company NNPCL have decided to invest in the Ubeta gas field. This project is located 80 km northwest of Port Harcourt, in onshore block OML 58. The gas will be processed in the Obite plant and will supply the local market and the Nigeria LNG liquefaction plant. The Ubeta field, with six wells, will be connected by an 11 km gas pipeline to existing installations.

Production will begin in 2027, reaching 300 million cubic feet per day. This project is designed to be economical and low emissions. A 5 MW solar power plant and the electrification of the borehole will help reduce its carbon intensity. TotalEnergies and NNPCL have planned that more than 90% of working hours will be local.

Mike Sangster, Africa director of the Exploration-Production branch of TotalEnergies, underlined the importance of Ubeta in the strategy of developing low-cost, low-emission projects while increasing NLNG exports.

R. H.

Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.

Click here to consult the press release on which this article is based

See all TOTALENERGIES news