(Ecofin Agency) - Lekoil is currently in preparation to reach its production target of 10,000 barrels of oil a day from the Otakikpo facility in West Africa by the end of this year.
“Onshore facilities are complete while welding and installation work continues to progress on the offshore pipeline. The company expects commercial production to begin at Otakikpo in the next few weeks. The company is targeting production of 10,000 bopd by year-end 2016 and will then proceed to phase two of the Otakikpo Field Development Plan, bringing aggregate production to a target of 20,000 bopd by the end of 2017, subject to requisite approvals,” a company spokesperson said.
Lekoil has four production strings prepared for production. The company has increased its borrowing to complete the facility, Energy Voice reports. The Otakikpo is a Joint Venture between Lekoil and Green Energy International Limited (GEIL), with Lekoil as financial and technical partner and GEIL as operator. The partners began operations on the field in December 2014.
Otakikpo is situated in a coastal swamp location in OML 11, next to to the shoreline in the south-eastern part of the Niger Delta.