|NNPC/Mobil JV completes fabrication of platforms for new offshore operations, Friday, 16 Mar 2012|
(The Guardian) Mobil Producing Nigeria (MPN), operator of its Joint venture with the Nigeria National Petroleum Corporation (NNPC), has stated that it has completed three wellhead platforms constructed under the Satellite Fields Development Project Phase-1. The company disclosed yesterday that the platforms will soon depart from Nigerdock Nigeria Plc and Dorman Long Engineering Limited's fabrication yards in Lagos for the Abang, Oyot, and Itut oil fields located in Oil Mining Leases (OML) 67 and 70, offshore Nigeria. It was also learnt that the Abang, Oyot and Itut fields are targeted to recover more than 100 million barrels of oil and 20 million barrels of oil equivalent of natural gas liquids. Peak production from Phase-1 is anticipated to be 70 KBD. The platforms may be boost a major for national content advancement, as they are the largest fabrication contracts carried out in-country by Nigerian companies for the NNPC/MPN Joint Venture.
The Chairman and Managing Director of Mobil Producing Nigeria, Mark Ward, noted that the complete fabrication of the three wellhead platforms in Nigeria demonstrates the NNPC/MPN Joint Venture's continued support for the Nigerian government in meeting national goals. The joint venture, he said, is working proactively to achieve and exceed the Federal Government's target on Nigerian content development' adding that the company believes that it will reduce costs and continue to ensure the long-term availability and viability of in-country goods and services. According to him, "as the project's Nigerian content program includes development of local engineering workforce capability, increasing the capability and capacity of local fabricators, the NNPC/MPN Joint Venture recognises the long-term value and importance of Nigerian content development to the sustained growth of Nigeria. "We look forward to continuing the successful execution of the satellite fields development program."
The company informed that over 4.3 million man hours were invested in the project without any lost time injuries as the achievement is testament to commitment to safety. The Satellite Fields Development Program (SFD-1) is intended to develop the resources of over 20 discovered but undeveloped oilfields in the NNPC/ MPN Joint Venture (JV) acreage. The Satellites Phase 2 (SFD2) has completed project planning, selection and evaluation work and is currently at the Engineering Phase, which is over 60 per cent complete as at early this month. In August 2008, Mobil Producing Nigeria (MPN) executed Procurement and Fabrication (PF) Contracts with Nigerdock Nigeria Plc and Dorman-Long Engineering Limited, for the Satellite Fields Development Program Phase-1 (SFD-1). Nigerdock was contracted to fabricate the Abang and Itut wellhead platforms, piles, coating and corrosion protection; installation of mechanical/electrical equipment skids, testing, sea-fastening and load-out. The successful execution of the Satellite Fields Development Program (SFDP) is critical to the sustenance of the NNPC/MPN JV's production for the next decade with associated development of in-country execution capabilities.
|Recent 10 Market News Headlines|
|Terrapinn 2016 - Private Equity for Funding Electricity|
|Market Insight 040915|
|N’Assembly to Decide Final Benchmark for 2015 Budget(THISDAY)|
|SON destroys N5 billion sub-standard goods in 2014(Guardian)|
|Govt needs N900b to develop infrastructure, says minister(TheNation)|
|‘Nigeria Lost $7.92bn To Corruption In One Year’(Leadership)|
|Seized arms belong to French mission in Chad —Russia(Punch)|
|EY Recommends PPP as Major Tool for Economic Transformation(THISDAY)|
|13% MPR puts manufacturers’ credit access in jeopardy(BusinessDay)|
|FG approves NMRC’s plan to raise N50bn bond|