THE Green Energy International Limited, GEIL, will soon increase crude oil output by 8,350 barrels per day. The firm is set to begin production from its Otakikpo marginal field in oil mining lease 11. Otakikpo is in a coastal swamp of Rivers State. It is located approximately 60 kilometres Southeast of Port Harcourt, Rivers State.
Green Energy, in a statement by Bunu Alibe, its technical director, said the planned commencement of crude oil export followed the successful completion of Maximum Efficiency Rate, MER test on the production wells of the Otakikpo marginal field supervised by the Department of Petroleum Resources, DPR.
He said following the success of the test, the Otakikpo field has been given a technical allowable rate of 8,350 bpd from the four strings in two wells – Otakikpo 2 and Otakikpo 3 for the first quarter of this year. In addition, the company, he said, has been given the commercial allowable rate, CAR, of 5,000 bpd for February this year by the crude oil marketing department of the Nigerian National Petroleum Corporation, NNPC.
According to Alibe, the field has the capacity of adding about 10,000 bpd to the national production when operational.
“Having successfully completed its pipeline from the field to six kilometres offshore in preparation for crude evacuation through a shuttle tanker and finalised its Crude Handling Agreement, CHA, with Amni International Petroleum Development Company, GEIL has recently secured an Evacuation Permit from the regulatory body to enable it move its crude to Ima terminal operated by Amni.”
Other milestones achieved by the company, according to Alibe, include the approval of its Field Development Plan and the installation of its processing facility, while it has also completed an onshore storage facility of 45,000-barrel capacity. He said the company and its Technical Partner – Lekoil Oil and Gas Investment Limited, were poised to follow through all processes of crude oil export before the end of the quarter.
— Mar 6, 2017 @ 01:00 GMT