Fidelity bank banner UBA banner
Oil firm finds solution to problem of militancy

By Isaac Anyaogu on 03/01/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,541

•LEKOIL’s CEO Lekan Akinyanmi.
•LEKOIL’s CEO Lekan Akinyanmi.

Lekoil, the operator of Otakikpo Marginal Field, is dealing with the threat of militancy by moving crude it produces offshore directly into storage tanks, bypassing Nigeria’s pipelines prone to attacks by Niger Delta militants.

In a December 8 note to investors, the company announced that oil is flowing at the Otakikpo Marginal Field to onshore storage tanks, where it will be evacuated upon completion of the offshore pipeline.

The company said that all onshore facilities have been fully commissioned and signed off by the regulators, and the offshore pipeline leading from the storage tanks to the tanker offloading manifold is 80% complete.

Upon completion of the pipeline, the joint venture partners comprising of Green Energy International Ltd as Operator and LEKOIL as Technical Partner, expects to start transporting to the export terminal and subsequently, be able to gradually ramp up production to 10,000 bop.

“We’re delighted to announce this key milestone from the Otakikpo field. I would like to thank the entire team that has worked so hard on this project, our partners Green Energy, investors, debt financiers, our host communities and our government regulators for their continued support,” said Lekan Akinyanmi, LEKOIL’s CEO.

Lekoil has begun a novel approach of producing from the field into tanks, starting with around 5,000Barrels Per Day. Lekoil is finalising the construction of a six-kilometre pipeline to transport the crude to the tanker offloading manifold.

Nigeria’s pipelines have been under severe attacks by militants calling themselves the Niger Delta Avengers for much of 2016.

Pipelines leading to terminal routes including the TransForcados System, Nembe Creek Trunk Line, Trans Niger Pipeline, Line to Qua Ibue Terminal and Kwale To Brass Line, have been shut down by militants at various times in 2016, with the TransForcados System out for all of 10 months.

Otakikpo is sited in a coastal swamp location in oil mining lease (OML) 11, adjacent to the shoreline in the south-eastern part of the Niger Delta. Lekoil Nigeria exercises the rights and benefits of its 40% Participating and Economic interest in Otakikpo via the Farm-in Agreement and Joint Operating Agreement signed on 17 May 2014 with Green Energy International Limited. (Isaac Anyaogu/Business Day)

Source News Express

Posted 03/01/2017 1:11:50 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Prisons to review security arrangements after jail break...

Senior immigration officers fault suspension of Comptroller-General

Tax officials seal OAU over alleged N1.8bn default...

Dino Melaye in double trouble; wanted in Abuja,...

Niger calls for immediate rehabilitation of Federal Roads...

Abubakar Shekau, The Third, By Olusegun Adeniyi

FG opens portal for recruitment

Court remands 12 kidnap suspects in prison custody...

Agriculture: Ebonyi to partner 50,000 farmers, 8,000 civil...

Forex Fraud: 16 local and international banks face...

Military recaptures border town

Court strikes out N19.2B fraud charges against former...

 

Latest News World Igbo Congress endorses Atiku/Peter Obi ticket •Says Obi a miracle worker Boko Haram may soon kill Leah Sharibu, health workers — Red Cross EFCC operatives trail Fayose Travel ban: We have not released any list — Presidency Forget 2019 Presidency, Save Lagos Group tells Buhari Wike declares support for Atiku 2019: PDP South East caucus, MASSOB okay Atiku/Obi ticket Falana to Buhari: Withdraw travel ban on 50 Nigerians ‘without any delay’ INEC under pressure to return Zakari to operations Amnesty office dismisses reports, says not owing graduands under scholarship at Benson Idahosa University Over 15 cultists denounce membership in Enugu Aba fuel explosion: Tension over fresh pipeline leakage

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (406,329 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (382,048 views) Shameless Genevieve Nnaji exposes breasts in public (314,419 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (256,228 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (237,137 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (224,145 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (203,885 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (185,367 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (169,885 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (165,748 views) Lagos plane crash: Journalist releases victims’ names (161,311 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (149,148 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (67) Business & Economy (3,679) Business Verdict (52) Columnists (945) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (558) Features (658) Global Business Monitor (304) International (2,529) Interview (165) Live Commentary (28) Love Matters (145) News (39,613) Opinion (1,122) Pidgin (13) Politics (7,210) Religion (880) Sports (1,730) Stock Watch (35) AMA & Al Jazeera Global Update

 

Zenith Zero Balance

NLNG Expression of Interest banner

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Fulham vs Arsenal 1-5 All Goals & Extended Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement