Egina project vangard news

You're referring to the Egina Project, also known as the Egina FPSO (Floating Production, Storage and Offloading) vessel, which is a major oil and gas project located off the coast of Nigeria. Here are some recent news updates on the project:

Recent News:

  1. First Oil Production: In February 2021, the Egina FPSO vessel started producing oil, marking a significant milestone for the project. The vessel is expected to produce around 200,000 barrels of oil per day.
  2. Nigeria's Oil Production Boost: The Egina project is expected to increase Nigeria's oil production by around 10%, making it a significant contributor to the country's oil output.
  3. Investment and Job Creation: The project has attracted significant investment, with a total cost of around $3.6 billion. The project has also created thousands of jobs during its construction and operation phases.
  4. Environmental Concerns: There have been concerns about the environmental impact of the project, particularly with regards to oil spills and pollution. However, the project's operators, including Total, have implemented measures to mitigate these risks.
  5. Future Expansion: There are plans to expand the Egina project, with the potential for additional oil and gas discoveries in the surrounding area.

Background:

The Egina project is located in the deepwater region of the Niger Delta, approximately 130 kilometers off the coast of Nigeria. The project involves the development of the Egina oil field, which is estimated to contain around 600 million barrels of oil.

The project is operated by Total, in partnership with the Nigerian National Petroleum Corporation (NNPC), Société Nationale des Pétroles du Congo (SNPC), and the China National Offshore Oil Corporation (CNOOC). The project involves the construction of a floating production, storage, and offloading (FPSO) vessel, which will process and store oil before it is transported to shore for export.

The Egina project is a significant development for Nigeria, which is seeking to increase its oil production and revenue. The project is also expected to contribute to the country's economic growth and development.