REG-TotalEnergies SE Nigeria: TotalEnergies Launches the Ubeta Gas Development to Supply Nigeria LNG Liquefaction Plant

TotalEnergies SEAnnouncement

20/06/2024 13:15

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Nigeria: TotalEnergies Launches the Ubeta Gas Development to Supply Nigeria
LNG Liquefaction Plant

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), operator of OML 58 onshore
license in Nigeria with a 40% interest, together with the Nigerian National
Petroleum Corporation Ltd (NNPCL, 60%), have taken the Final Investment
Decision (FID) for the development of the Ubeta gas field.

Located about 80 km northwest of Port Harcourt in Rivers state, the OML 58
license contains two fields currently in production, the Obagi oil field and
the Ibewa gas and condensate field. OML58 gas production is processed in the
Obite treatment center and supplied to both the Nigerian domestic gas market
and to Nigeria LNG (NLNG) plant.

Also located in OML58, the Ubeta gas condensate field will be developed with a
new 6-well cluster connected to the existing Obite facilities through a 11 km
buried pipeline. Production start-up is expected in 2027, with a plateau of
300 million cubic feet per day (about 70,000 barrels of oil equivalent per day
including condensates). Gas from Ubeta will be supplied to NLNG, a
liquefaction plant located in Bonny Island with an on-going capacity expansion
from 22 to 30 Mtpa, in which TotalEnergies holds a 15% interest.

Ubeta is a low-emission and low-cost development, leveraging on OML58 existing
gas processing facilities. The carbon intensity of the project will be further
reduced through a 5 MW solar plant currently under construction at the Obite
site and the electrification of the drilling rig. TotalEnergies is working
closely with NNPCL to enhance local content, with more than 90% of manhours
which will be worked locally.

“Ubeta is the latest in a series of projects developed by TotalEnergies in
Nigeria, most recently Ikike and Akpo West. I am pleased that we can launch
this new gas project which has been made possible by the Government’s recent
incentives for non-associated gas developments. Ubeta fits perfectly with our
strategy of developing low-cost and low-emission projects, and will contribute
to the Nigerian economy through higher NLNG exports”, said Mike Sangster,
Senior Vice President Africa, Exploration & Production at TotalEnergies.

***

About TotalEnergies in Nigeria

TotalEnergies has been present in Nigeria for more than 60 years and employs
today more than 1,800 people across different business segments. Nigeria is
one of the main contributing countries to TotalEnergies’ hydrocarbon
production with 219,000 boe/d produced in 2023. TotalEnergies also operates an
extensive distribution network which includes about 540 service stations in
the country. In all its operations, TotalEnergies is particularly attentive to
the socio-economic development of the country and is committed to working with
local communities.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our more than 100,000 employees are committed to provide as many
people as possible with energy that is more reliable, more affordable and more
sustainable. Active in about 120 countries, TotalEnergies places
sustainability at the heart of its strategy, its projects and its operations.

TotalEnergies Contacts

Corporate Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
(mailto:presse@totalenergies.com) l @TotalEnergiesPR 
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Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
(mailto:ir@totalenergies.com)

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Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
based on a number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TotalEnergies SE
nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Registration Document, the French-language version of which is filed by
TotalEnergies SE with the French securities regulator Autorité des Marchés
Financiers (AMF), and in the Form 20-F filed with the United States Securities
and Exchange Commission (SEC).



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