TotalEnergies Makes New NTOKON Oil Discovery in Offshore Nigeria.

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French TotalEnergies, one of the top international oil and gas companies operating in Nigeria, on Tuesday, June 13, 2023, revealed it has made a major oil find offshore Nigeria under the Oil Mining Lease (OML 102).

The oil discovery, dubbed “Ntokon-1AX discovery” has the prospect of sustaining commercial production that would culminate in increasing Nigeria’s oil reserves which have been hovering around 37 billion barrels for many years now. NTOKON translates to Pepper in the language of the nearby locality of Akwa Ibom State.

In a statement obtained by Vanguard, Total Energies is quoted to have said that NTOKON is located in shallow waters, 60 km off the southeast coast of Nigeria and is about 20 km from the neighbouring Ofon field facilities, still on OML102.

Though the total volumes of oil found aren't clear yet, Ntokon-1G1 tested successfully up to a maximum rate of about 5,000 barrels per day of 40° API oil.

Planned to be developed through a tie-back to these existing facilities, “the Ntokon discovery opens a promising outlook for a new tie-back development’’, said Nicolas Terraz, President, Exploration & Production at TotalEnergies. “This new success in the area further demonstrates the potential of nearby exploration to create value within our low-cost, low-emission strategy," he added.

OML 102 is operated by TotalEnergies EP Nigeria which owns a 40% interest, alongside JV partner NNPC Ltd which holds the remaining 60%.”

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