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OTAKIKPO MARGINAL FIELD COMMENCES EVACUATION OF CRUDE OIL SOON

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Following the successful completion of Maximum efficiency rate “MER” test on the production wells of Otakikpo Marginal field in OML 11, supervised by the DPR, the Operator, Green Energy International ltd has announced that it will commence continuous full production and evacuation from the field soon. Consequently the Otakikpo field has been given a “Technical Allowable rate” of 8,350 bopd from the four strings in 2 Wells: “Otakikpo 2″and ” Otakikpo 3″ for the first quarter of this year.The company has also been given the Commercial Allowable rate of 5000bopd for February this year by the Crude Oil Marketing Department of the NNPC.

Having successfully completed its pipeline from the field to 6 km offshore in preparation for crude evacuation through a Shutttle Tanker and finalized its Crude Handling Agreement (CHA) with Amni International Petroleum Development company, GEIL has recently secured an Evacuation Permit from the regulatory body to enable it move its crude to Ima terminal operated by Amin.

According to its Technical Director, Dr Bunu Alibe, other milestones already achieved by the company included the approval of its Field Development Plan and the installation of its processing facility.Also an onshore storage facility of 45,000 barrel capacity has been completed.

He said the company and its Technical Partner- Lekoil Oil and Gas Investment Ltd was poised to follow through all processes towards crude oil export before the end of the quarter.According to him the field has the capacity of adding about 10,000 bopd to the national production within a short period of time.

He expressed appreciation of the company to all regulatory agencies and other Stakeholders for their support in bringing the field to production.He also thanked the Technical Partner and all its employees for their efforts in achieving the milestones.

Further more, he said that as part of its commitment to uplift the socio economic status of the host communities, the company was embarking on the immediate installation of 6 Megawatts electricity plant while ensuring that the Trust Fund set up to finance development projects and managed by the community are adequately funded.

Under a Farmout from SPDC JV, the Federal Government awarded the Marginal field to Green Energy which it designated as the Operator, to implement the company’s innovative Small Scale Gas Utilisation Programme “SSGUP”. Otakikpo field was identified as one of the suitable sites for a pilot programme that offers unique solution to utilize the gas from the field for power generation, and LPG production for domestic cooking gas.The company in collaboration with its Technical Partner began the re- entry efforts on the 2 wells in 2015.