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Otakikpo Marginal Field Gets First Oil

By Green Energy International Ltd
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Green Energy International Ltd "GEIL",the Operator of the Otakikpo Marginal Field has struck its first Oil from the field. This is subsequent to a successful re-entry and integrity test of the Otakikpo well -02, followed by a perforation and testing of the E1000A sand of same well. The E1000A is one of the two target reservoirs in Otakikpo-02.

Achieving this critical milestone barely 15 months after receiving its Ministerial consent for the Farm out from Shell and its JV partners, brought instant celebration to stakeholders of the company and its Technical Partners, LEKOIL Oil & Gas Investment Ltd.

The field which lies approximately 60 km South East of Port Harcourt , Rivers State of Nigeria was discovered by Shell and its JV partners in 1980 while the Appraisal well- Otakikpo-02 which the company re- entered to produce the first Oil was first drilled in 1981 and this was followed by Otakikpo-03.

Under a Farmout from SPDC JV, the Federal Government awarded the Marginal field to Green Energy an indigenous integrated energy firm, to implement the company’s innovative Small Scale Gas Utilisation Programme "SSGUP", Otakikpo field was identified as one of the suitable sites for a pilot programme that offers unique solution to improving the economy of the Oil producing communities while ensuring zero routine gas flares.

The Technical Director of the indigenous company,Dr Bunu Alibe explained in the statement by the company that the strategy consist of oil production from the field while the associated gas will be processed and utilized for power generation for the communities and excess sold to the Port Harcourt Distribution Company "Disco", in addition to LPG extraction and bottling facility to produce and distribute domestic cooking gas.

As a way of implementing its mandate and the vision of its stakeholders as an Integrated Energy company, Alibe said GEIL has recently obtained a license for 10 MW captive power from the National Electricity Regulatory Commission (NERC). Also, the company was recently granted a license by the Department of Petroleum Resources (DPR) for Modular Refinery to produce diesel and other refined products.

The company has also pursued a stakeholder partnership model with the communities around the project area, a situation which has enabled the host communities to appreciate the presence of the company as partners for sustainable development.Having achieved this milestone,he said,the company will accelerate its drive to put in place necessary infrastructure and processes to continue full development and eventual production from the field in no distant future.

In this regard, Dr Alibe said the company will in the months ahead install the Extended Production Facility( EPF) and construct a 5km undersea pipeline to enable produced crude from the Otakikpo Field to be evacuated via a Shuttle Tanker. He highlighted that work towards the installation of a power plant and other related gas utilization projects has reached advanced stage of actualization.

In his message to the Stakeholders, the Chairman of GEIL, Professor Anthony Adegbulugbe, was full of thanks to God for the milestone achieved so far within the short span of moving to the field.He thanked the host communities for the partnership with the company and hoped that the people would allow the company enjoy a hitch free and conducive environment to unfold its unique development initiatives for the overall good of the people and the nation.

According to him, "the project offers considerable benefit to all stakeholders and has the strong potential of a gas flares out solution, boosting the economic development potentials of the community, and indeed the nation, while bringing profitable returns to its Investors”

"In getting this far, we have enjoyed the support and cooperation of the regulatory bodies, particularly the DPR and NERC, and the Head Farmors led by Shell. We also appreciate the cooperation and hard work of our Technical Partners: Lekoil, as well as all our employees, consultants and contractors whose common sense of purpose and drive for excellence has brought us this commendable result", Adegbulugbe said.

Corporate Affairs Directorate

Green Energy International Ltd

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