26th Oct 2018 11:20
LONDON (Alliance News) - West Africa-focused Eland Oil & Gas PLC said on Friday it has completed drilling operations at the Opuama field, offshore Nigeria, and is currently flow testing the well into the production facilities.
The long string producing from the deepest of these reservoirs, the D4000 flowed a 1,610 barrels of oil per day, and the short string, producing from the D3500 reservoir, flowed at 2,453 barrels per day.
Stabilised initial production from Opuama-11 is expected to be between 4,000 to 6,000 barrels of oil per day, in line with the company's previous guidance.
As a result of the completed Opuama-11 drilling operations, the OES Teamwork rig has been mobilised to the Gbetiokun field where it will re-enter the Gbetiokun-1 well and drill Gbetiokun-3 as apart of the first phase of field development.
The field will be brought on stream through an early production system, and is expected to produce around 15,000 barrels of oil per day.
Workover operations have been completed on the Ubima-1 well, onshore Nigeria and Eland is currently evaluating options on how to further appraise and develop the D1000 reservoir sands.
"We are pleased with what is expected to be another highly successful infill well on the Opuama field and we look forward to further record field production levels once testing has been completed. At current oil prices, these record levels of production from Opuama field are leading to significant cashflows for all of OML 40's stakeholders," said Chief Executive Officer George Maxwell.
"The prolific nature of OML 40 combined with the company's experienced and resourceful team and supportive stakeholders means that we move development operations swiftly to the Gbetiokun field and the opportunity to increase production by a further 50% in the near-term," Maxwell added.
Shares in Eland Oil & Gas were down 1.9% at 95.20 pence on Friday.
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