TEXACO has made a massive oil find at its Agbami field off Nigeria with potential recoverable reserves of more than one billion barrels. Texaco said on Thursday it completed testing on the Agbami-2 appraisal well confirmed that the Agbami structure was a “giant discovery” — among the largest single finds in deepwater West Africa. The group said the structure spans an area offshore Nigeria of 45000 acres. Oil from the reservoir is said to be light, sweet crude with no contaminants. Texaco has interests in a total of five contiguous deepwater blocks off Nigeria, all of which have significant undrilled potential.
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