Oando Energy Resources completes Umugini pipeline oil evacuation

By Anayo Korie   /  Ag Energy Editor


Oando Energy Resources (0ER), an  arm   of Oando  group of Companies  with  focus  on oil and gas exploration and production in Nigeria, has announced  the completion  of  51km Umugini pipeline for the conveyance of 45,000 barrels of oil in its mining concession.

The pipeline will provide an alternative evacuation route for crude oil produced from the Ebendo Field through the Trans Forcados export pipeline, Mr. Pade  Durotoye, CEO, Oando has  said.

Durotoye, who disclosed the development in Lagos yesterday said the   completion of the Umugini pipeline now allows the firm  to maximize the value of  investments to date as  the asset will  provide the latitude for further profitable development of prospects and resources identified in Ebendo.

‘‘Following the successful drilling of Ebendo wells 5, 6, and 7 over the past 12 months, oil production capacity within OML 56 has grown to 7,140barrels of oil  gross for OER and Energia Limited the operator of the asset (3,052 barrels of oil daily   net to OER).

However, export had been constrained at 3,093barrels of oil daily  (1,322barrels of oil daily OER Share) via the Agip operated Kwale-Brass NAOC/JV infrastructure, in which OER currently has a 20 per  cent  interest through the recent $1.5billion  acquisition of ConocoPhillips Nigerian Oil & Gas Business.

The completion and commencement of operations on the Umugini pipeline ensures that the Ebendo field can now produce at its full capacity.’’he noted.

Source : Independent

Tags: No tags

Comments are closed.