Eland Oil & Gas has announced the recommencement of oil production from the Opuama oilfield located at OML 40 onshore Nigeria
According to the company, production has started through the re-commissioning of existing infrastructure and the re-opening of two existing wells.
The gross output from these two wells is expected to stabilise at around 2,500 bpd. The crude oil produced will be delivered to the Shell Forcados export terminal via the recently re-commissioned flowstation and export pipeline, with a capacity to export up to 30,000 bpd.
Les Blair, CEO of Eland Oil & Gas, said, “The commencement of production on OML 40 has been much anticipated by management and investors alike, and indeed by all stakeholders. We look forward enthusiastically to the prospect of building on this pivotal turning point by materially increasing the daily production through the planned development drilling during 2014.”
Nigerian Petroleum Development Corporation (NPDC) holds a 55 per cent interest in OML 40. The remaining 45 per cent interest is owned by Eland Oil & Gas’ joint venture company Elcrest Exploration and Production Nigeria.
