TotalEnergies E&P is the operator of OML 58 onshore licence, with a 40 per cent stake in the US$550 million Ubeta Field Development Project, while the Nigerian National Petroleum Company Limited (NNPCL) has 49 per cent equity.
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The Ubeta Field Development Project is being developed under Oil Mining Licence 058, with an expectation to produce 300 million standard cubic feet of gas per day . Billed to commence production in 2027, the Ubeta Field facility, located about 80 kilometres northwest of Port Harcourt, Rivers State, would feed and secure gas supply to the Nigeria Liquefied Natural Gas Train-7 Project at Finima, Bonny Island, currently undergoing capacity expansion from 22 to 30 metric tonnes per annum .
He stated that “the approval of the final stages of the Nigerian Content Plan for this project” was one of the first acts he performed on his assumption of duty in December 2023. Mr Ogbe, represented by the General Manager, Corporate Communications and Zonal Coordination, Esueme Dan Kikile, Esq, reiterated that the NCDMB has effectively aligned its processes “to shorten the oil industry’s contracting cycle to six months or less to engender speedy development of new projects, contribute to increased oil production, and improve the national economy.”
Noting that TotalEnergies has been very active in Nigeria’s oil and gas industry for several decades, he disclosed that “Ubeta is the latest in a series of projects developed by TotalEnergies in Nigeria, most recently Ikike and Akpo West.”
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