Operations

Production peaked at 120 Mbpd from the nine discoveries in OML 18. Further development of OML 18 was a top priority of the company. Audits were 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 was executed to increase daily production. These included artificial lift with gas, cement packer and other initiatives. These production improvement initiatives are continually refined based on the results of the studies commissioned.

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

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

The plan was to significantly increase the reserves with this exploration initiative.

Oil and gas are produced 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.

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.