Total, Chevron launch Moho Nord development in the Republic of the Congo

Chevron Corp. (NYSE: CVX) subsidiary Chevron Overseas (Congo) Ltd. will proceed with the joint development of the Moho Bilondo "Phase 1 bis" and Moho Nord projects offshore the Republic of the Congo with Total, operator of the Moho-Bilondo license.

The project is expected to cost a total of $10 billion and achieve first oil from the Moho Bilondo “Phase 1 bis” project in 2015 and first oil from the Moho Nord project in 2016. The joint development will produce 140,000 barrels per day of crude oil at its peak production in 2017.

Situated approximately 46 miles (75 kilometers) offshore southwest of Pointe-Noire in water depths ranging from 1,500 to 4,000 feet (450-1,200 meters), the Moho-Nord joint development is the largest-ever oil and gas project in the Republic of the Congo. The Moho Bilondo “Phase 1 bis” project includes 11 subsea wells tied back to an existing floating production unit with a processing capacity of 40,000 barrels of oil per day. Production in the permit area began in 2008 with the Moho Bilondo 1E development. The Moho Nord project involves a tension leg platform, a floating production unit with a processing capacity of 100,000 barrels of oil per day, and a new 50-mile (80 kilometer) pipeline to the onshore Djeno terminal.

“The development of Moho Nord marks another milestone in Total’s long established presence in the Republic of the Congo and leverages our demonstrated expertise in successfully managing major projects, especially in the deep offshore. The launch enhances visibility on Total’s production growth objective,” commented Yves-Louis Darricarrère, President of Total Upstream.

The installations have been designed to limit environmental impact. Measures include eliminating flaring under normal operating conditions and reinjecting all produced water.

“We are proud to partner with the Republic of the Congo to develop the nation’s offshore resource potential,” said Ali Moshiri, president of Chevron Africa and Latin America Exploration and Production Company. “Moho Nord is further indication of our commitment to West Africa where Chevron has made sizable investments.”

Total E&P Congo, the Group’s wholly owned subsidiary, operates the Moho Bilondo license with a 53.5% interest, alongside state-owned Société Nationale des Pétroles du Congo (15%) and Chevron Overseas Congo (31.5%).

 

Related Articles

Chevron, YPF continue development of Vaca Muerta shale in Argentina

04/14/2014 Chevron Corp. confirms that subsidiaries of the company have signed agreements with the Argentine oil company YPF SA to continue development of shale oil and gas resources from the Vaca Muerta form...

The Think-Tank of Asean

04/11/2014

The global energy pendulum is swinging towards Asia and as Southeast Asia pursues its road to modernity, the region is poised to play a central role in this seemingly inevitable shift.

Deepwater spend forecast to surge from 2016

04/11/2014 Deepwater capital expenditure (Capex) is expected to increase by 130%, compared to the preceding five-year period, totaling $260 billion from 2014 to 2018. Africa and the Americas continue to domin...

MIDSTREAM NEWS

04/11/2014

UPSTREAM NEWS

04/11/2014

More Oil & Gas Financial Articles

Chevron, YPF continue development of Vaca Muerta shale in Argentina

Mon, Apr 14, 2014

Chevron Corp. confirms that subsidiaries of the company have signed agreements with the Argentine oil company YPF SA to continue development of shale oil and gas resources from the Vaca Muerta formation located in the Neuquén province in Argentina.

The Think-Tank of Asean

Fri, Apr 11, 2014

The global energy pendulum is swinging towards Asia and as Southeast Asia pursues its road to modernity, the region is poised to play a central role in this seemingly inevitable shift.

Deepwater spend forecast to surge from 2016

Fri, Apr 11, 2014

Deepwater capital expenditure (Capex) is expected to increase by 130%, compared to the preceding five-year period, totaling $260 billion from 2014 to 2018. Africa and the Americas continue to dominate deepwater Capex, with $213 billion set to be spent.

MIDSTREAM NEWS

Fri, Apr 11, 2014

UPSTREAM NEWS

Fri, Apr 11, 2014

Most Popular

Oil & Gas Jobs

Search More Job Listings >>
Subscribe to OGFJ