EGINA project to be completed within initial budget

The Egina project is to be completed within initial budget and the project will set new local content records.  Being the first major deepwater development project launched after the enactment of the Nigerian Oil & Gas Industry Content Development (NOGICD) Act of 2010, Egina has the highest level of local content of any such project in Nigeria.

As operator of the Egina project, Total Upstream Nigeria Ltd fully identifies with the Government aspirations for Nigerian Content and has been working closely with the Nigerian Content Development Monitoring Board (NCDMB) and Nigeria National Petroleum Company (NNPC) to maximize Nigerian Content on the project.

Key Nigerian Content features of the Egina project include; 24 million man-hours worked in Nigeria (77 percent of total project workload), equivalent to a workforce of 3,000 persons on average over a period of 5 years; 60,000 tons of equipment to be fabricated in Nigeria; over 560,000 man-hours of human capacity development training across Egina contracts; construction of several large-scale new fabrication facilities in Nigeria and upgrade of several existing fabrication yards.

The Egina field was discovered by Total Upstream Nigeria Limited (TUPNI) in 2003 within the Oil Mining Licence 130 (OML130), some 200 kilometres south of Port Harcourt, Nigeria. The field is being developed by Total Upstream Nigeria Ltd in partnership with NNPC, CNOOC, SAPETRO and PETROBRAS. It will add 200,000 barrels per day to Nigeria’s oil production (approximately 10 percent of the country’s total oil production).

Egina is the largest investment project currently on-going in the oil and gas sector in Nigeria. The overall progress of the project stands at 88 percent and a key milestone was achieved on October 31st, 2017 as the Floating, Production, Storage and Offloading unit (FPSO) started its journey to Nigeria. The project is expected to be completed in Q4 – 2018, within the initial budget of $16 billion.

The Egina project is testimony to the fact that large deepwater projects can be developed with a very high level of in-country activities, thus fulfilling the aspirations and objectives of the Federal Government of Nigeria in terms of employment generation, capacity building and industrial capability development.