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Neconde Pushes OML 42 Production To 29,000 b/d

Indigenous oil producing independent, Neconde Energy, had escalated production numbers at operated oil mining lease (OML) 42 to impressive 29, 000 barrels per day (bld) in August.

The UNION quotes Africa Oil + Gas Resports as stating that Neconde Energy averaged 29,1000 b/d gross production in August 2015. The deliveries from the Batan and Odidi fields which the company operates in Nigeria’s western Niger Delta Basin was more than double the June 2015 average of 14,194BOPD. It also topped the July 2015 average (of 24,000BOPD) by more than 20%.

OML 42 is held in joint venture between Neconde (45%) and .the state hydrocarbon firm NPDC (55%), the operating arm of the putative giant NNPC, Africa’s potentially largest government owned oil company.

Neconde took over operatorship of the acreage from NPDC in May 2015, and its production has surged, in percentage terms far higher than its peers: NDWestern, Shoreline and Elcrest, all Nigerian vehicles who, like Neconde purchased 45% belonging to Shell, TOTAL and ENI in 2012 in OMLs 34, 30 and 40 respectively. These other acreages are still being operated by NPDC.

Engineers and geoscientists at NPDC, speaking under conditions of anonymity, vigorously deny claims that the improvement in production has come because of Neconde taking the operatorship from their company, arguing that July and August 2015 were relatively free of vandalism (of export pipelines, which often affect production); but it’s also true that the percentage increase in production has been exceptionally high in the space of three months of operatorship.

The magazine had earlier reported that gross oil production from the assets had increased from 14,194 b/d in June 2015 to 24,000 b/d in July 2015.

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