…Targets over 1mb daily production from 2018
01 January 2018, Sweetcrude, Lagos — A subsidiary of Sahara Group, Asharami Energy, has declared 38.2 million barrels of oil reserve in its newly-released 2017 sustainability report.
According to the company, one of its major goals in 2018, is to begin to raise its production from the past production entitlement on its asset, which was 1.1 million barrels, mb, for 2017.
Further details of its projected productions showed that the company targets 1.219 million barrels for 2018, 1.765mb for 2019 and 2.291mb in 2020, 4.480mb in 2021, 4.667mb in 2022, 5.181mb in 2023, 4.624mb in 2024, 3.689mb in 2025, 3.012mb in 2026 and 2.166mb in 2027.
It listed one of the challenges confronting it in its operations as the adverse effect of the global slump in prices of crude oil, saying this has resulted in a significant reduction in upstream investment in Asharami Energy.
In the course of 2016, the company said, it faced some major setbacks, one being the shutdown of its main evacuation route, the Trans Forcados Pipeline, which was down due to incessant vandalism, leading to significant downtime and losses.
The company also said its reconciliations from the wellhead to flow station terminals were reporting great discrepancies due to the lack of an appropriate metering system, which forced it to consider an alternative evacuation route via barging. This was executed through an alternative crude evacuation route project, it said.