Petroleum Africa
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Monday, March 11, 2024
San Leon Energy announced within its recent corporate update that production at OML18 has improved since last year’s difficulties with the Nembe Creek Trunk Line (NCTL) and production has been in the region of 10,000 barrels of oil per day (bopd) alongside gas production.
San Leon says that should it planned Refinancing complete, and the company makes its planned investments in ELI, the Alternative Crude Oil Evacuation System’s (ACOES) infrastructure (which comprises a 47-km secure undersea pipeline from OML 18 to the floating storage and offloading unit (FSO) ELI Akaso terminal) is expected to bring a material increase to OML 18’s production.
With a throughput capability of 200,000 bopd (ACOES pipeline plus barging combined) and a storage capacity of two million barrels of oil in the FSO ELI Akaso terminal, the ACOES will enhance crude oil commercialization for OML 18 and other regional producers, primarily through the reduction of downtime and crude losses associated with the existing export routes.
Completion of the ACOES is anticipated to be around four months following the Company completing its further investments in ELI (which is conditional on the Refinancing completing), although barging of oil to the FSO ELI Akaso terminal could be commenced within weeks of San Leon making its further investments in ELI.
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