Oriental Energy said it has taken operational control of Ebok field from Afren Plc a subsidiary of Afren Resources Limited.
Following the implementation of the Ebok Field Transition Plan in August 2015, the smooth handover of the field would see Oriental Energy provide working capital to fund all operations, while absorbing key operations’ personnel.
Oriental Energy,in a statement said the development will ensure that the company has the technical capability to operate the asset independently and safely, in line with its long term strategy.
With this development, Oriental has assumed full responsibility for funding the field operations; transferred the employment of 100 key Afren commercial, legal, technical and operational staff to Oriental directly, and assuming direct responsibility for their upkeep and the London and Houston offices.
Other areas of responsibilities, according to the statement, are the near completion of the transfer of all technical agreements and contractual agreements related to the Ebok field, and the take over of all costs for field operations from 1 August 2015.
“Oriental has presented to and received the formal support of the Department of Petroleum Resources and its Partners and Farmors in the OML 67 NNPC ExxonMobil JV in its assumption of full operational control of the Ebok field.
“These measures demonstrate Oriental’s clear capability to assume both financial and technical leadership for the on-going and safe production operations at Ebok, and the further field development that has been planned,” the statement noted.