Seven energy LogoBased on reports from allafrica.com, it seems that Seven Energy International Limited, the independent Nigerian integrated gas development, production and distribution company, has begun crude oil production from another one of its oil fields in Nigeria.
The Stubb Creek field in Akwibum commenced production following approval to embark on delivery of oil through ExxonMobil’s Qua Iboe Terminal. The gas company’s interest in the Stubb Creek field is held through a 62.5% interest in the operator, Universal Energy Resources Ltd
Commenting on this milestone, Phillip Ihenacho, Chief Executive Officer, Seven Energy, said “Oil production at Stubb Creek marks the successful first phase of our long term development plan, which is designed to deliver commercial development of the field’s oil reserves ahead of the development of the substantial non-associated gas reserves that are also present. In the long term it will bring additional gas production into our existing processing and distribution infrastructure, and so further deepen the growing Nigerian gas market.
Production at Stubb Creek is also important because it marks the attainment of first oil at one of the marginal fields allocated to indigenous companies. This realizes the original intention of the marginal field round to enable domestic companies to bring smaller, unutilized fields on-stream, enhancing both domestic ownership and national production, and so revenue.”
READ ALSO: Ojukwu never imagined I’d go to war – Gowon
Click And Read More From Newstrack.ng
