27 February 2008
Lagos — Nigeria's crude oil and condensate output came down by 100, 000 barrels per day (100kbd) from her December level of 2.2 million barrels per day (2.2 mbd).
The 2.1 mbd is also some 70 kbd less than the country's agreed output in the organization of petroleum exporting countries (OPEC) where it occupies the status of the group's sixth biggest exporter.
But despite Nigeria's production cut-back the group's total output to the export market appreciated by some 250 kbd from December levels, indicating strongly that other members increased output to offset the Nigerian shortfall.
Despite Nigeria and Indonesia which has been battling declining output due to field maturity, other OPEC members either maintained December level or topped it.
OPEC members that maintained their December average include Algeria, Ecuador, Libya Qatar and Venezuela. Algeria produced at an average of 1.39 mbd, Ecuador 500kbd, Libya 1.74 mbd, Qatar 830 kbd and Venezuela 2.4 mbd.
Those that exceeded their previous limits include Angola which topped 50 kbd on its 1.8 mbd in December to average 1.850 mbd in January; Iran with an increase of 10 kbd on its December output to post an average of 3.980 mbd in the month and Kuwait which topped 10 kbd on its December production to post an average of 2,550 mbd in January.
Other countries that exceeded their January limits are Saudi Arabia which added 180 kbd to attain 9.2 mbd and UAE which topped 90 kbd to reach 2.590 mbd.
With the gains outstripping the deficits, the group's total output added 247 kbd to the December averge of 32.03 mbd to a new level of 32.250 mbd in January.
Meanwhile, despite the nation's unending domestic political troubles, Nigeria has been rated as determined to increase production, and added several rigs for exploration in late 2007.
According to production outlook for 2008 conducted by the Worldoil analysts, this year and next should see production increases in NIgeria with the startup of the offshore Agbami operated by Chevron and Akpo operated by Elf.
The two projects are estimated to result in a significant production addition of some 450,000 bpd of hydrocarbon liquids.
The projection positions Nigeria ahead of other African countries in terms of physical production for the year.
Angola follows with the expectation of additional production from continued development and exploration drilling, with several projects slated to come onstream this year and in 2009.
Kizomba C's Mondo Field should soon be adding 100,000 bpd, and that will be followed by another 100,000 bpd from combined output from Saxi and Batuque Fields at Kizomba C later in 2008.
Elsewhere in Africa, Libya is envisaged to see good development drilling on recent discoveries, as foreign contracts bring the country into the mainstream of oilfield technology and allow production to increase.
In nearby Tunisia, the report says steady increases in rigs should add another 18 wells to the region's total. Recent and very promising oil discoveries in Uganda, Madagascar, Ghana and elsewhere suggest that Africa is vastly under-explored, and may hold significant untapped reserves.
The continent should see an 8.7 percent gain in well drilling, led by Egypt. That country is winning the battle against depletion and might see a modest gain this year in oil production, a result of continued year-to-year increases in this prolific area. The country should drill an additional 70 wells over last year-a 16 percent increase.
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