LAGOS—Nigeria’s first deepwater project, Bonga fields, will be shut down for one month starting from mid-February, 2017 due to maintenance upgrade.

This is a drawback for Nigeria which is yet to attain the Organisation of Petroleum Exporting Countries’ OPEC, allocated 2.2 million barrels per day.
                                                                         Bonga oil field
The Bonga fields support the country’s oil capacity by 10 percent, with a production capacity of approximately 200,000 barrel of oil equivalence (boe) a day and 150 million standard cubic feet per day (mmscfd) of gas a day.
According to a copy of the loading plan, crude oil loading for February has been reduced to three cargoes which is less than half the seven cargoes planned for January.
The Nigeria Liquefied Natural Gas Company (NLNG) located at Bonny Island receives gas from the Bonga development from where it is exported to European and global markets as LNG.
The field located in License block OML 118 off the Nigerian coast, covers approximately 60 km2 in an average water depth of 1,000 metres (3,300 ft).
The field is operated by Shell Nigeria which owns 55 per cent of the license. Other partners in the field development are ExxonMobil (20 percent), Nigerian AGIP (12.5 percent) and Elf Petroleum Nigeria Limited (12.5 percent).
When contacted, Precious Okolobo, spokesperson of Shell in Nigeria, said, “relevant operational update will be duly communicated.”
It will be recalled that earlier this year, Shell workers at Nigeria’s Bonga oil field in the southern Niger Delta evacuated from the field, following militant threat.
The field covers approximately 60 km² in an average water depth of 1,000 metres.
Meanwhile, Angolan state oil company, Sonangol yesterday offered several cargoes for February loading at firm levels, as the full set of Nigerian programmes had yet to emerge. Angola is set to export 46.2 million barrels on 48 cargoes in February, compared to 52 cargoes in January. The barrel-per-day figure is higher due to the shorter month in February. Nigerian differentials remained under pressure from ample supply. Around 30 January-loading cargoes are still available even as the February programmes have started to emerge.
A trader said that the Qua Iboe programme for February has still not been issued, although some traders may have been allocated cargoes.
Turkey’s Tupras is running a tender to buy West African crude, mostly Nigerian grades. The tender is for cargoes delivered on February 1st to 10th.
Indian refiner BPCL is also running a tender to buy crude loading January 26 to February 5, including Agbami, Akpo, Yoho, Brass River and Qua Iboe. It closes on December 22.

Source: Vangaurd

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