Petroleum Africa
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Wednesday, March 26, 2014
Caracal Energy Inc. saw its first shipment of Badila oil for export sales loaded at the Kribi sea terminal offshore Cameroon . Total cargo size of the lifting was approximately 950,000 barrels of oil, and Caracal;s net entitlement share was 560,000 barrels of oil. The company’s partner, GlencoreXtrata plc, was entitled to the balance of the cargo.
Caracal and Glencore joint lift cargos, and Glencore markets the shipments on behalf of the partners.
Ceremonies were held in Kribi and Douala to mark this significant event. In addition to Caracal senior executives, also attending were high ranking officials from the Chad, senior executives from SHT, the Chadian national oil company, COTCO, the operator of the Kribi offshore terminal, and senior representatives of the Pipeline Committee of Cameroon.
Gross production from the Badila field during March has averaged 14,100 bpd of oil, up from January’s 12,000 bpd, and Caracal is on schedule to expand the production processing and shipping facilities during Q3 of 2014.
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