A unit of Mobil Corp. expects by yearend to export the first cargo from its $1 billion Oso condensate development project off Nigeria.
Paul J. Hoenmans, president of Mobil's worldwide exploration and producing division, made that announcement last week during commissioning ceremonies of the company's offshore production facility.
Oso field lies located on oil mining lease (OML) 70, about 35 miles off Southeast Nigeria and Mobil's onshore Qua lboe terminal.
The Oso condensate project is made up of 21 wells, eight platforms, one single point mooring, and 130 miles of offshore pipelines. In addition, the project has three dedicated storage tanks and loading facilities at the Qua lboe terminal. All facilities are designed to handle peak production of 100,000 b/d of condensate.
Contractors on the project were the MBJ group made up of McDermott Inc. of the U.S., Bouygues Offshore of France, and JGC of Japan.
Mobil Producing Nigeria Unlimited (MPN) operates the joint venture between itself 40% and Nigerian National Petroleum Corp. 60%.
Mobil and NNPC accounted for 35% of Oso equity contributions, with the rest coming from World Bank, International Finance Corporation, Export Import Bank of the U.S., Export Import Bank of Japan, European Investment Bank, and commercial banks led by Morgan Guaranty Trust Co. of New York, Union Bank of Switzerland, Banque Nationale de Paris, and Credit Lyonnais.
Oso is the first project World Bank has sponsored in the Nigerian upstream industry. In addition to Oso, MPN currently has producing capacity of 350,000 b/d of crude oil. With projects under development, that crude producing capacity is to increase to 500,000 b/d by 1995.
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