U.S. oil giant Mobil Producing Nigeria Unlimited (MPN) has commissioned a 3.5 billion dollar project designed to boost crude oil recovery, gas commercialization and end gas flaring in its areas of operations, local media reported on Friday.
The project will impact significantly on increased crude oil output, increased reserve, monetization of flared gas volumes and increase in Nigerian local content development.
Chairman and Managing Director of MPN John Chaplin who has been promoted to the position of vice president of the ExxonMobil Corporation said that the east area projects include Additional Oil Recovery (AOR) and Natural Gas Liquids 11 (NGL11).
The major components of the AOR projects are gas compression complex plus seven associated platforms, personnel living quarters and more than 100 miles of pipeline for natural gas gathering and distribution.
"We expect the project to produce 530 million gross barrels of additional oil reserves from blocs OML 67 and OML 70 and provide a peak volume of 120,000 barrels of oil per day," he was quoted as saying by the Guardian newspaper on Friday.
Chaplin also disclosed that considering cuts of the Organisation of the Petroleum Exporting Countries (OPEC) and corresponding cuts in Nigeria 's output, the new addition takes MPN's production to about 800,000 barrels per day.
The NGL 11 includes the installation of an offshore gas-processing complex, more than 125 miles of new pipelines and the expansion of the joint venture's Bonny River terminal facilities.
Mobil, an ExxonMobil affiliate, is the operator of the Nigerian National Petroleum Corporation (NNPC) and Mobil Joint Venture.
Source: Xinhua
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