Yemisi Izuora
Despite ongoing challenges, Eland Oil & Gas PLC said it hopes to achieve 30,000 barrels a day production from the Opuama oil field by mid year.
The oil firm has reported that mechanical issues are holding up work on the Opuama-9 well, though production over the whole field remains strong.
Eland said mechanical problems with the OES teamwork rig have continued, with the main problem being a lack of consistent power.
Drilling has been suspended whilst back-up engines arrive at the site, and Eland expects them to arrive in April. The company expects to complete work on Opuama-9 in April and then move onto Opuama-10 straight after.
Nevertheless, it said production on the entire field is “strong”, with gross production on all four wells reaching record levels of 23,164 barrels of oil per day in March. Opuama-9 and Opuama-10 are expected to add between 4,000 and 6,000 barrels a day combined once they are online, as Eland aims for its 30,000 barrel per day target during the first half of 2018.
Total production net to Elcrest Exploration and Production Nigeria Ltd, the joint venture vehicle through which Eland is involved in Opuama, is 639,581 barrels so far this year.
Chief Executive George Maxwell commented: “Although any delay is frustrating it is not unexpected during a multi-well drilling campaign. I am very pleased with how our team and our partners have responded to the challenge and it should not mask the success of our ongoing drilling campaign which has increased gross production from 12,000bopd to a record 23,164boepd in under six months.
“Through our increasing lifting volumes, all our stakeholders are starting to see the positive financial effects of our successful drilling campaign and resulting significant ramp-up in production.”