Lekoil begins oil production from Otakikpo

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’Femi Asu

Lekoil, the oil and gas exploration and development company with a focus on West Africa, has announced the commencement of continuous production from the Otakikpo Marginal Field in Oil Mining Licence 11.

The company, in a statement on Wednesday, said this followed the completion of a six-kilometre offshore pipeline leading from the storage tanks to the tanker offloading manifold at the Otakikpo field.

It also stated that all onshore facilities and the offshore pipeline had been fully commissioned and signed off by the regulators.

Otakikpo field, in the southern part of OML 11 about 35 km east of the Bonny export terminal, is jointly developed by Green Energy International Limited as the operator, and Lekoil as technical and financial partner.

The Chief Executive Officer, Lekoil, Mr. Lekan Akinyanmi, said, “Lekoil is now a producing company.  I would again like to thank the entire team that has worked so hard on this project, our partner Green Energy, our investors and debt financiers, our host communities and our government regulators for their continuing support.

“The Otakikpo project began in a swamp location with no infrastructure and our team delivered production under two years with nearly 915,000 hours without any lost time injuries. I am extremely proud of our people’s achievements.”

According to him, the initial production (from the four production strings across both wells Otakikpo-002 and -003) is in line with the company’s expectations.

Akinyanmi said, “Initial production rates are 5,000 barrels of oil per day, per current regulatory approvals for production commencement.  As is customary for a new field, the company will now focus on gathering production data and optimising well performance.

“With regular exports underway, the company is focused on ramping up to production of 10,000 bopd by end of the second quarter of 2017.”

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