An indigenous exploration and production oil firm, Green Energy International Ltd (GEIL), operator of the Otakikpo Marginal Field, has struck its first oil.
A statement endorsed by its Director of Corporate Affairs, Mr. Olusegun Ilori explained that the feat came on the heels of the re-entery and integrity test of Otakikpo well-02, perforation and testing of the E1000A sand of the same well.
The field which lies approximately 60 km Southeast of Port Harcourt, Rivers State is based in the South of Shell’s OML 11, between the shore to the South and Chevron’s OML51 to the North and about 35 km East of Bonny Crude Export Terminal.
“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 statement read.
The field 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 Shell JV, the Federal Government awarded the marginal field to Green Energy which it designated as the operator, 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 programme consist of oil production from the field while the associated gas will be processed and utilised 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.
The statement, explained that as a way of implementing its mandate and the vision of its stakeholders as an integrated energy company, GEIL has recently obtained a license for 10 megawatt (Mw) captive power from the National Electricity Regulatory Commission (NERC). Also, the company was recently granted a licence 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.
Its Chairman, Prof Anthony Adegbulugbe, was full of excitement 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 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.
He said: “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.”
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