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LEKOIL production continues to rise at Otakikpo field

The Nigeria-based oil producer is working towards an output target of 10,000 bopd
oil barrels in stack
Production is presently at 7,600 barrels per day

LEKOIL Limited (LON:LEK) told investors that production from the Otakikpo field averaged 6,400 barrels of oil per day in October, and the rate is now about 7,600 bopd.

The company highlighted the ramp-up since production resumed at 5,000 bopd in February this year, and noted that it is advancing towards its first target of 10,000 bopd – before phase two of the project which targets further growth to 20,000 bopd.

READ: Lekoil hires new chief financial officer and non-exec director

Phase two work includes 3D seismic of the entire field as a precursor to drilling new wells.

LEKOIL also highlighted that it anticipates delivering a new competent persons report to reassess the field’s scale and scope for growth.

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