The French oil and gas group TotalEnergies has started production on the Akpo West field on the PML2 license in Nigeria. Located at 135 km off the coast, the field is tied to the Akpo Floating Production Storage and Offloading (FPSO) facility, which started production in 2009 and achieved a 124,000 boe/d production in 2023. The production of the Akpo West field is expected to add 14,000 bbl/d and an additional 4 mcm/d of gas by 2028. TotalEnergies is the operator of PML2 with a 24% interest, in partnership with CNOOC (45%), Sapetro (15%), Prime 130 (16%), and the Nigerian National Petroleum Company as the concessionaire of the PSC.
Nigeria is one of the main contributing countries to TotalEnergies’ oil and gas production where the company produced 219,000 boe/d in 2023. In January 2024, the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) announced its plans to increase the country’s oil and condensates production to 2.6 mbl/d by 2026 with a production target of 1.8 mbl/d in 2024.