Yemisi Izuora
Lekoil Ltd has announced commencement of oil production from the Otakikpo Marginal Field in the OML 11 licence in the Niger Delta.
The first oil flowed from the well on Friday, with production testing then carried out over the weekend, the company said.
The Otakikpo-002 well produced from only the first of four planned production strings, and flowed oil at various choke sizes for over 24 hours at a peak rate of 5,703 barrels of oil per day ahead of its expectations, Lekoil said.
The company said it will provide further operational updates on the Otakikpo field when it publishes its first-half results.
“We are delighted to announce that Lekoil is now an oil producer. We always believed in the potential of Otakikpo but the production rate from the first re-entered well has exceeded our expectations,” said Chief Executive Lekan Akinyanmi.