Sign up
Oil Capital

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.

Why Invest In Lekoil Ltd? Read More Here

Register here to be notified of future LEK Company articles
View full LEK profile View Profile
View All

Related Articles

© oil Capital 2018

Oil Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed oil companies to interact with institutional and highly capitalised investors.
Headquartered in London, Oil Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Technology market.