NECONDE energy targets 17,000 BPD production in September
NAN-HE-26
Oil
By Yunus Yusuf
Lagos, July 18, 2017 (NAN) NECONDE Energy Limited, the Exploration and Production subsidiary of the Obijackson Group, said it was targeting 17,000 barrels per day (bpd) output from its oil mining lease, OML 42 located in the West Delta.
Mr Frank Edozie, Managing Director of the company, made the disclosure at a media briefing in Lagos on Tuesday.
Edozie said that the company had taken some strategic steps, such as the rehabilitation of the Batan and Odidi flow stations, to enable it achieve the targeted production level.
He said that the company had designed another methodology of transporting its crude through the use of barges to the export vessels on the sea.
The NECONDE boss said that before the pipelines vandalisation, the four wells which comprised the OML 42 produced between 230,000 to 250,000 barrels per day.
According to him, since the acquisition of the asset, the company has been battling with series of community issues and acquisition challenges. The communities are making lives hell for us.
“We resorted to carrying our crude oil through barges due to inability of the Transforcados operational challenges because of incessant vandalism.
“We plan to hit between 15,000 to 17,000 barrels per day production target by September, while 60, 000 BPD by 2018,’’ he said.
Edozie debunked allegation of rights violation, nepotism and tribalism claimed by people of Gbaramatu community in Delta adding hat the company had never agreed with the community on five per cent equity on its 45 per cent stake asset equity on OML 42 as claimed by the community.
NAN recalls that on July 9, the host community Gbaramatu Traditional Council alleged that NECONDE had refused to honour an agreement to remit five per cent of its 45 per cent equity on OML 42 to host community.
“The most absurd of the allegations by the Gbaramatu Traditional Council is the claim that the Management of Neconde Energy Limited refused to honour an agreement to remit five per cent of its 45 per cent equity to OML 42 host communities.
“It is a matter of public record that NECONDE acquired its equity in OML 42 following the divestment of same by Shell Petroleum Development (SPDC).
“The company is unaware of and did not enter into any agreement with any party or parties to sell or otherwise transfer any of its equity, for any consideration whatsoever, to any party or parties,” he said.
NAN reports that NECONDE is the operator of oil mining lease, OML 42, through its acquisition of a working 45 per cent interest from Shell, Total and Agip joint venture (SPDC) in 2011 but finalised operatorship in 2016. (NAN)
YO/IFY/YAZ
========
Edited by Ify Omowole/Yusuf Zango