ChevronTexaco signs equipment fabrication deal for Nigerian oilfield

0 Comments | AFP, April, 2005

LAGOS (AFP) — US oil giant ChevronTexaco has signed a 276 million dollar (211 million euro) deal with FMC Technologies of the United States to make sub-sea production equipment for a huge new Nigerian offshore field, the firm said.

ChevronTexaco hopes to produce 250,000 barrels per day from the Agbami field, which lies 70 kilometres (45 miles) off Nigeria's Atlantic coast at a depth of 1,371 metres (4,500 feet), from 2008.

The field has estimated reserves of 800 million barrels.

The US oil giant said the greement was a follow up to a 1.1 billion dollar deal it signed in February with South Korea's Daewoo Shipping and Marine Engineering to build a giant floating platform for the oilfield.

Chevron is one of Nigeria's major operators, accounting for...