Petroleum Africa
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Wednesday, February 1, 2017
Eland Oil & Gas finalized its export option for the Opuama field in Nigeria; the crude will be exported by ships. Production has restarted into the main storage vessel and the shuttle vessel will shortly arrive on site with transport of the crude commencing thereafter.
The Opuama-3 is currently the only well on production, which produced at a gross volume of around 10,000 barrels of oil over a 24-hour period. Although Eland will initially produce from Opuama-3, the system has the capacity to handle greater quantities of production as other wells are brought online.
George Maxwell, CEO of Eland, commenting on the Opuama and the company’s export routes said, “The diversification of our export routes has been a key priority for the Company to ensure we are protected in the event of further disruption to our onshore export route. I am delighted that we have finalized the process for the shipping of our crude and that production from Opuama has recommenced. The work over the last two months to provide an alternative monetization opportunity has required an innovative engineering and contracting approach by our staff, which is now delivering value for this effort and I look forward to updating the market in greater detail over the coming weeks.”
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