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Petralon Energy Targets First Oil From Dawes Island Marginal Field

Key partner in the Dawes Island Marginal Field, Petralon Energy has declared July target for first oil.

The indigenous exploration and production company, in partnership with Tako E&P Solutions Limited, farmed into the Dawes Island Field in July 2014, ‘and have made considerable headway in operations in this field.’

The Dawes Island Marginal Field is located in OPLs 2005 & 2006 (formerly OML 54), in Swamp Terrain, about 15 kilometers SW of Port Harcourt and has a field coverage area of 40km2.

The field was farmed out by Chevron from former OML 54, to Eurafric Energy Limited which is currently the operator of the field. Petralon acquired a joint stake in the field with Tako E&P with 35% and 14% respectively. Tako

E&P an indigenous company registered in Nigeria to carry out businesses in the Upstream, Midstream, Downstream and Energy Sectors.

Petralon has already committed in excess of $10Million over the last six months to complete the re-entry of the existing Dawes Island-1 well. The drilling campaign in the Dawes Island well is at an advanced stage, having drilled over 4,100 ft with the side-track to a target depth of c. 7,010ft well underway.

CEO of Petralon Energy,Mr. Ahonsi Unuigbe, commented: “We are extremely delighted to be developing the Dawes Island Marginal Field. At Petralon, local content meets global best practice and I am confident that our dynamic approach coupled with our experience and expertise will make this project a success. We anticipate a base case initial production from the field of 1,500 bopd, ramping this up to 3,000 bopd by year-end.

“We are proud to be part of the rapidly growing group of indigenous companies who have the technical competence and financial resources to own and operate assets in Nigeria, fueling the growth and development the indigenous upstream sector Nigeria.”

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