More oil lifted from Otakikpo

Lekoil has completed its second oil export from the Otakikpo field in Nigeria’s OML 11 lease.

Offshore staff

LAGOS, NigeriaLekoil has completed its second oil export from the Otakikpo field in Nigeria’s OML 11 lease.

Around 250,000 bbl were lifted from the FSOAilsa Craig by Shell Western Supply and Trading.

Current production at Otakikpo is around 5,500 b/d – Lekoil is targeting ramp-up toward 10,000 b/d.

Elsewhere, the company and partner Optimum continue to examine options for appraisal of the offshore Ogo discovery, following interpretation of 3D seismic data acquired over the OPL 310 block in 2015.

Lekoil, via its subsidiary Mayfair Assets and Trust, negotiated a farm-in to the block in May 2013.

In April 2017, Lekoil signed a memorandum of understanding with GE Oil & Gas for development ofOgo.

Subject to fulfilment of various conditions including a positive well result, GE and Lekoil announced plans to fund the full field development capital cost, currently estimated at $400 million for the oil and $600 million for the subsequent upstream gas project.

Lekoil is holding discussions with other potential partners for financing of the OPL 310 appraisal program, including two appraisal wells, which it expects will start in early 2018.

06/26/2017

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