ExxonMobil announces gas condensate find off Nigeria

ExxonMobil in Nigeria on Monday announced the discovery of rich gas condensate off the country’s coast as the government seeks to boost gas supply to help solve electricity shortages. Mobil Producing Nigeria Unlimited, a local joint venture, announced “a rich gas condensate discovery in Oil Mining Licence 104, approximately 75 kilometres (47 miles) offshore of Akwa Ibom State in southeast Nigeria.” The Pegi-1 discovery well encountered 165 net feet (50.3 metres) of rich gas condensate, a type of natural gas liquid, it said. “Significant additional potential remains in untested deeper targets within the Pegi fault block as well as in adjacent fault blocks,” the statement said.

Gas-fired power plants are part of major plans by the Nigerian government to increase electricity supply in the nation, where outages are daily occurrences. “We are focused on developing oil and gas reserves and supplying natural gas that will boost commercial power production in line with the federal government’s aspiration,” Mark Ward, chairman of Mobil Producing Nigeria Unlimited, said in the statement.