JOINT VENTURE COMPANIES
PETROLEUM DEVELOPMENT COMPANY-(SPDC)
-this is a joint venture operation, managed by Shell Petroleum. The
shareholding structure comprises NNPC (55%), Shell International (30%), Elf Petroleum
(10%), Agip Oil (5%). This is the largest producing operation in Nigeria, and accounts for
almost half of the countrys daily production (approximately 900,000bbl/day) and
reserves. The company has 2 operating units-the eastern division, based in Port Harcourt,
and the western division based in Warri. SPDCs corporate headquarters is in Lagos.
The company has more than 100 producing oil fields, and a network of more than 6,000
kilometres of pipelines, flowing through 87 flowstations. SPDC operates 2 coastal oil
export terminals, Forcados and Bonny.
PRODUCING NIGERIA UNLIMITED- (Now Exxon Mobil), a joint venture that is now the second
largest operation in the country. The JV also has the only condensate operation in
Nigeria, and is owned by NNPC (60%), and Mobil Oil (40%).
NIGERIA LIMITED-The joint venture is owned by NNPC (60%) and
(40%). The JV has its head office in Lagos, while its operational base is in Escravos,
producing a crude stream of the same name.
OIL COMPANY-(NAOC) The fourth
largest oil producer in Nigeria is owned by NNPC (60%), Agip Oil (20%), and Phillips
Petroleum (20%). Current production is about 145,000 bbls/day, from 146 producing wells.
The company operates an export terminal at Brass, and has its operational base in Port
ELF NIGERIA LIMITED- The JV between NNPC (60%) and TotalElfFina (40%) produces about 125,000 bbls/day, from 12 onshore and offshore fields. ELF has its operational base in Port Harcourt. The company has no export terminal, and operates with a floating production unit. Currently, production is split evenly between offshore and onshore fields, and Elf plans to shift most of its production offshore with the development of a number of offshore concessions acquired by the company.
(NIGERIA) PETROLEUM COMPANY (TOPCON)-
In January 1999, Texaco and its Nigerian deepwater joint-venture partner, Famfa, announced a major discovery, Agbami-1. The field located in deep waters located of the Niger Delta, has commenced development this year.
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