• Monday, May 27, 2024
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ExxonMobil, Tenoil Petroleum partner on Ata oil field drilling

exxon-mobil-M-AThe hope of upping the nation’s dwindling oil reserve has received a boost as Mobil Producing Nigeria Unlimited (MPN), an ExxonMobil subsidiary, and Tenoil Petroleum & Energy Services (Tenoil) have reached an agreement for the drilling of an appraisal well on the Ata field.

Tenoil is to commence the drilling of Ata field soon, a move seen in some quarters as another milestone for the company and this may further boost its profile as an indigenous company to watch in oil and gas service industry.

The drilling will help evaluate whether there is an opportunity to jointly develop the Ata field.

The Ata field was discovered in 1964 by MPN, the operator of its joint venture with the Nigerian National Petroleum Corporation (NNPC), and is located in block OML 68, which borders Tenoil’s block OPL 2008. Both blocks are located in shallow water offshore of the Eastern Niger Delta, Nigeria.

According to a statement by Heirs Holdings, drilling the field in addition to the development of OPL 281, which Tenoil operates on behalf of Transnational Corporation of Nigeria Plc (Transcorp), demonstrates a strategic step towards the desire of Heirs Holdings to achieve an integrated energy strategy which encompasses power generation, oil production and refining, petrochemicals and fertiliser production.

Nolan O’Neal, chairman and managing director of Mobil Producing Nigeria Unlimited, in his remark, noted that the agreement demonstrates the Nigerian National Petroleum Corporation/Mobil Producing Nigeria JV’s continuing commitment to working with Nigerian companies to develop the country’s oil and gas resources.

Tony O. Elumelu, chairman of Tenoil, while reacting to this development, commended MPN, saying this is an exemplary demonstration of genuine commitment by an international oil company to the development of indigenous capacity in Nigeria’s oil and gas sector.

“MPN is collaborating with Tenoil to provide technology expertise in the successful execution of this first drilling project,” he said.

“Our announcement, following the recently concluded US-Africa Leaders’ Summit in Washington, DC, is a step forward in a relationship that serves as a model for collaboration between African businesses and their U.S. counterparts,” Elumelu said.