French Oil Company, Total, has found a new oil field off the coast of Nigeria.
This is a quote from the Press statement Total released “(TEPNG) struck black gold about 40 miles (65km) off the coast of the oil-rich Niger Delta. One of the reservoirs tested at about 8,500 barrels of oil a day. 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. TEPNG holds a 40 percent stake in the company, while its NNPC partners hold the remaining 60 percent.”
Total’s Senior Vice President (Exploration), Marc Blaizot, went further to state “With the exploration being undertaken in Nigeria, Total intends to strengthen its growth strategy,”
Total has been present in Nigeria for fifty years. Total’s equity production averaged 300,000 barrels of Oil equivalent per day in 2010. Total has been focusing more on Offshore, deep-water oil fields in recent years.

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