Operations

Production peaked at 120 Mbpd from the nine discoveries in OML 18. Further development of OML 18 is a top priority of the company. Audits have been carried out on our existing facilities to identify opportunities for optimization and improvement. These facilities are:

1. Two associated gas plants
2. One non-associated gas plant
3. 7 Flow Stations

A vigorous campaign is currently ongoing to increase daily production - Artificial Lift with gas, Cement Packer and other initiatives. These production improvement initiatives are continually refined based on the results of the studies we have commissioned.

Flowlines replacement was initiated immediately after the asset was acquired and a process has been put in place to ensure that all our flowlines meet regulatory compliance specifications.

Additional wells are planned to be drilled based on our five -year strategic plan (2018 – 2022). We also plan to acquire 3D and 4D seismic data over the asset.

A holistic five-year exploration program was initiated in 2018. This program entails the following:

1. 3D seismic data acquisition
2. Legacy data reviews (driver of exploration plans)
3. Drilling of exploration wells

We plan to significantly increase our reserves with this exploration initiative

We currently produce oil and gas from the Akaso, Alakiri, Cawthorne Channel and Awoba fields. Export is via the Nembe Creek Trunk Line (NCTL).

A dynamic development drilling campaign was initiated in Q4 2018. And we also plan to carry out a 4D seismic data acquisition on the producing fields.