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Total says Nigerian Usan oil starts next month

Category: Investors NewsBeat

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Total says Nigerian Usan oil starts next month

Monday February 20, 2012 6:12pm 

French energy major Total said on Monday production from its Nigerian Usan offshore oil project would begin next month.

"We are about to start. It will be before the end of the first quarter," Chukwuma Isaac, Total Nigeria upstream manager, said in the capital Abuja.

Traders expect export volumes of Usan to total about 4-5 cargoes per month or about 130,000-160,000 barrels per day (bpd). The quality of Usan crude is expected to be heavier and higher in acidity than most other Nigerian crude. 

Source: Reuters (Reporting by Joe Brock)


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