French-based oil giant, Total SA, in a press statement today, said that it has discovered a new oil well find off the coast of Nigeria. Total SA, in the statement confirmed that its subsidiary Total E&P Nigeria Ltd. (TEPNG) struck oil about 40 miles (65km) off the coast of the oil-rich Niger Delta. According to the Associated Press, the company said one of the reservoirs tested at about 8,500 barrels of oil a day.
Responding to the discovery, , Total’s Senior Vice President Exploration, Marc Blaizot said, “With the exploration being undertaken in Nigeria, Total intends to strengthen its growth strategy.” “This strategy is focused on two priorities. On one hand, to strengthen exploration near our production hubs in the conventional offshore to maintain our production levels. On the other hand, amplify deep offshore exploration on riskier prospects of large size around the Akpo and Usan field to grow our reserves”, he added. According to the statement, TEPNG holds a 40 percent stake in the company, while its NNPC partners hold the remaining 60 percent. Total has been present in Nigeria for half a century, and, according its equity production, averaged 300,000 barrels of oil equivalent per day in 2010.
Isnt it amazing that we need foreigners to help us discover how much oil we have in the country and also tell us when its dried off, well done Mr. Jonathan
I specialize in investigative reportage across several subject matter and sectors but mainly focus on metro events and investigation. Do leave your thoughts and opinion on my reports to let me know what you think about them. Thank you
Posted: at 8-11-2011 09:07 PM (13 years ago) | Addicted Hero
smallboy10 at 8-11-2011 09:58 PM (13 years ago) (m)
Nautalkam why u dey thank GEJ when he want to remove oil subsidy for us,very soon we will stop posting for naijapals because of subsidy.
Posted: at 8-11-2011 09:58 PM (13 years ago) | Upcoming
d one we discover b4 bring problem and proverty so dis na more disaster oooooo shameful country every thing wen God take bless nation turn to swear for 9ja own
Posted: at 9-11-2011 02:59 AM (13 years ago) | Upcoming
Nametalkam, are u trying to be funny, why are u thanking Jonathan? What does Jonathan have to do with the oil discovery? Foriegn companies have been working/exploiting/exploring our oil right from the word go - Jonathan was a small boy when it started. That is the condition Jonathan's predecessors created for the country. U can be naive or funny all you want, but leave Jonathan out of it because he is not the Legislature that can promulgate a law to ban foreign exploration in the country. Secondly, past leaders of the country enjoyed the kickback they received from foreign companies; therefore, has not invested wisely on Human Capital, R&D, and other technologies that would help us become independent of foreign compnies.
Posted: at 9-11-2011 03:20 AM (13 years ago) | Upcoming
Chizee that was well said. Your observation was noted. Jonathan has not done anything to stop the capitalists from exploiting the goodies in our country. Now that another oil well had been found, lets see what difference it would make in the life of people living close to the region of the discovery. Our Nigerian citizens should be thought how to explore themselves after all we have everything that it takes to acquire the technology and the knowledge could be attained from the expatriates after which they would be sent back to their countries. Nigeria leaders....wake up and smell the coffee before its too late.
Posted: at 9-11-2011 05:43 AM (13 years ago) | Upcoming
why is it so difficult 4 western oil greed companies 2 leave? we d niger deltan have ask u guys 2 leave in so many ways stop discovery and go, thk God d world is changing so fast d rich are bcoming poor very soon una go com dey eat asylm 4 africa indeed babylon in throne will soon go down God bless marley
Posted: at 9-11-2011 08:09 AM (13 years ago) | Newbie
TRENDING GISTS 
“He Got Me Pregnant”: Nigerian Lady Accuses Popular Pastor Of Sexual Misconduct In Viral Video
UK-based Nigerian Woman, Christy Oluwabunmi Oyewole Accuses Ogun Monarch, Oba Adekeye Adeyemi Olanrewaju of Fake Marriage, N195m Fraud
2025 U-20 AFCON: Check Out All 8 Teams That Qualified For Quarter-Finals