Eland Oil & Gas has announced that it plans to carry out work overs on its current wells so as to boost production from the Opuama field at a low cost.

According to the company, the Opuama field located in OML40 in Nigeria produce very much in 2015, as the Opuama-1 well produced at a rate of 4,500 bopd at the end of the year, considerably higher compared to normal production during the year.

« Following a highly successful workover of Opuama-1 in the fourth quarter, production from the field increased by more than 50% to 4,500 barrels of oil per day, and has remained at these higher levels since. We now turn our attention to two further low capital expenditure, high production workovers on OML 40, », George Maxwell CEO of Eland said.

The overall lifting from the Opuama field in 2015 reached 341,000 bbls, higher than the amount lifted in 2014 while in 2016, it amounted to 38,000 bbls.

The company said it plans to reduce operating costs by 30% by the end of Q1 of 2016, Energy Voice reports.

Anita Fatunji