Africa-focused Lekoil is expected to begin commercial oil production from Nigeria’s Otakikpo marginal field, located in Oil Mining Lease (OML) 11 in Rivers State during October, following the completion of the Otakikpo-003 well, Ecofin Agency reported.
The company is targeting a production rate of 10,000b/d of oil from Phase 1 of the Otakikpo field development plan. The short-term focus is exclusively on ramping up production from Otakikpo, so that cash flow can be subsequently used for further expansions and for the appraisal of the Ogo oil discovery, according to Proactive Investors.
This comes after the successful return of the Otakikpo-002 well, first oil from Otakikpo flowed to surface in September 2015. Lekoil will continue to Phase 2 of the Otakikpo field development plan which is to bring production to a target of 20,000b/d, depending on necessary approvals by the Department of Petroleum Resources (DPR) and Joint Venture Partners.
In early September, Egypt Oil&Gas reported that Lekoil confirmed that the Otakikpo field had achieved first oil. Two intervals (of four) in just one well yielded rates of 5,703 b/d, whereas two wells had been expected to flow 6,000 b/d.