CVX » Topics » Nigeria:

This excerpt taken from the CVX 10-K filed Mar 9, 2004.
Nigeria: ChevronTexaco’s principal subsidiary in Nigeria, Chevron Nigeria Limited (CNL), operates and holds a 40 percent interest in 11 concessions, predominantly in the onshore and near-offshore regions of the Niger Delta. CNL operates under a joint venture arrangement with the Nigerian National Petroleum Corporation (NNPC), which owns the remaining 60 percent interest. ChevronTexaco’s subsidiaries Chevron Oil Company Nigeria Limited (COCNL) and Texaco Overseas Nigeria Petroleum Company Unlimited (TOPCON) each hold a 20 percent interest in six additional concessions. TOPCON operates these concessions under a joint venture agreement with NNPC, which owns the remaining 60 percent interest.

In 2003, daily net production from the 33 CNL-operated fields averaged 113,100 barrels of crude oil, 2,400 barrels of liquefied petroleum gas (LPG) and 50 million cubic feet of natural gas. Net production from five TOPCON operating fields during the year averaged approximately 7,200 barrels of crude oil per day. Onshore operations in the western Niger Delta were suspended in March 2003 as a result of community disturbance. Net onshore production capacity of about 45,000 barrels of oil per day remained shut-in at year-end while the company continued to evaluate options for safe and secure restoration of production.

The onshore and offshore engineering, procurement and construction bids were received in 2003 for Phase 3 of the Escravos Gas Project, which includes adding a second gas plant and expanding processing capacity to 680 million cubic feet per day and is targeted for completion in 2007. ChevronTexaco holds a 40 percent working interest in the Escravos Gas Project, which has the capacity to process 285 million cubic feet of natural gas per day.

Front-end engineering and design and site preparations have been completed for the planned gas-to-liquids (GTL) facility at Escravos. This proposed 33,000-barrel-per-day GTL project is the company’s first project to use the Sasol Chevron Global Joint Venture’s technology and operational expertise. Project start-up is expected to be in 2007. ChevronTexaco will ultimately hold about a 38 percent beneficial interest.

The company also continued activities in the deepwater Agbami development. In 2003, a pre-unitization agreement was completed between ChevronTexaco and the Blocks 216 and 217 participants. Initial production is expected in 2007.

Successful results were achieved in 2003 from the Aparo-3 appraisal well and the Nsiko-1 wildcat well in the deepwater Block OPL-249, in which the company is entitled to a variable equity interest over the life of the field.

OPL-222 activities continued in 2003 with the successful completion of appraisal programs involving Usan-3, Usan-4 and Ukot-2, in which ChevronTexaco holds a 30 percent interest. Exploration activities on the shelf included the completion of the Okagba-2 appraisal well along with the successful Sonam-4 appraisal well.

The company and its partners in the Brass River Consortium agreed to advance plans for the front-end engineering and design work for a new LNG facility at Brass River in Nigeria.

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This excerpt taken from the CVX 10-K filed Mar 17, 2003.
Nigeria: ChevronTexaco’s principal subsidiary in Nigeria, Chevron Nigeria Limited (CNL), operates and holds a 40 percent interest in 11 concessions, predominantly in the swamp and near-offshore regions of the Niger Delta. CNL operates under a joint venture arrangement with the Nigerian National Petroleum Corporation (NNPC), which owns the remaining 60 percent interest. ChevronTexaco’s subsidiaries Chevron Oil Company Nigeria Limited (COCNL) and Texaco Overseas Nigeria Petroleum Company Unlimited (TOPCON) each hold a 20 percent interest in six additional concessions. TOPCON operates these concessions under a joint venture agreement with NNPC, which owns the remaining 60 percent interest.

      In 2002, net daily production from the 33 CNL-operated fields averaged 115,100 barrels of oil and 3,100 barrels of liquefied petroleum gas (LPG). TOPCON shut in one of its fields in 2002. Net production from the five remaining fields operated by TOPCON during the year averaged approximately 8,700 barrels of oil per day.

      In the third quarter 2001, preliminary design started for Phase 3 of the Escravos gas project, which includes adding a second gas plant and expanding processing capacity to 680 million cubic feet per day, and is targeted for completion in 2005. ChevronTexaco holds a 40 percent working interest in the Escravos gas project, which processed 236 million cubic feet of natural gas per day during 2002.

      Front-end engineering and design have been completed for a proposed gas-to-liquids (GTL) facility and site preparation in Escravos is at an advanced stage. The proposed 33,000 barrels-per-day GTL project is the company’s first to use the Sasol Chevron Global Joint Venture’s technology and operational expertise. Project start-up is expected to be in 2006. ChevronTexaco holds a 38 percent interest.

      The company also continued activities in the deepwater Agbami development. Unitization efforts between Block 216 and Block 217 participants progressed during 2002 and unit agreements are expected in 2003. Initial production is expected in 2007.

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EXCERPTS ON THIS PAGE:

10-K
Mar 9, 2004
10-K
Mar 17, 2003
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