05 February 2014 – State-owned oil company Nigerian Petroleum Development, NPDC, has started producing from the Opuama oilfield onshore Nigeria.
London-listed Eland Oil & Gas, the joint venture partner, revealed the start of production on Wednesday.
The Opuama oilfield, located on the OML 40 license, started producing on Tuesday.
Following successful testing and commissioning of the facilities, two existing wells were re-opened.
Output from the wells is expected to stabilise at 2500 barrels of oil per day.
Crude produced will be delivered to the Shell Forcados export terminal via a recently-commissioned flowstation and export pipelines.
The field has gross recoverable proven and probably reserves of 52.4 million barrels.
NPDC is the operator of the field and holds a 55% interest, while Eland’s joint venture company, Elcrest Exploration and Production, holds the remaining 45%.
Production from the field was delayed late last year, sending Eland shares plummeting.
Eland expected production to begin by the end of 2013, after pushing back the start date from the end of last year’s first quarter.
*Bianca Bartucciotto – Upstreamonline