Continental Focus, International Reach

Gbetiokun-3 Hits Hydrocarbons

Tuesday, December 25, 2018

Eland Oil & Gas’ drilling on the third appraisal well on the Gbetiokun field, the Gbetiokun-3 well, in Nigeria has successfully encountered hydrocarbon-bearing sands. The company is continuing operations on drilling deeper to the remaining targeted reservoir.

The group said the operations, conducted by its JV in Nigeria, Elcrest Exploration and Production Nigeria Ltd., expects to see the completion of Gbetiokun-3 in January.

Once completed, production testing of the Gbetiokun-1 and Gbetiokun-3 wells will be conducted using an early production system (EPS) with initial gross combined production estimated to be approximately 15,000 bpd. Start-up of the EPS is expected to be in Q1 2019, according to Eland.

George Maxwell, Eland’s CEO commented: “Gbetiokun has the potential to deliver a 50% increase in oil production from OML 40.”