Gulf Oil and Gas accountACCOUNT

Exile Updated First Oil Target for Akepo-1st Well

Source: www.gulfoilandgas.com 10/18/2010, Location: Africa

Exile Resources Inc a junior oil and gas exploration and production company with operations focused on Africa, along with its joint venture partners in the Akepo field development project, announced that the Akepo-1st well will be produced via a pipeline to a nearby onshore facility, eliminating the need for an early production system.

“After evaluating several development plans and scenarios, the joint venture partners determined that a permanent pipeline solution is the most prudent and economic approach in developing Akepo-1st and the rest of the Akepo field,” said Tony Henshaw, President and CEO of Exile Resources. “We considered using an early production system consisting of a shuttle barge, to ship produced crude oil to a nearby offtake facility. This type of production system would have been quicker to deploy, but would have seen allin costs of roughly $50 per barrel. The permanent pipeline will cost roughly $11 per barrel, which should add back about $5 million to the project economics.”

The pipeline will span approximately 13 kilometres to a nearby onshore facility. The contract for the pipeline has been awarded and construction will begin in December 2010, with first production targeted for May 2011. Although there is a slight delay in first oil production from the field, the decision to forego the early production system has substantially improved the project’s economics.

In addition to Akepo-1st, the Akepo field joint venture partners have identified an additional prospect within the license area. Prospect A, located north of Akepo-1st, is an easily accessible, low-cost exploration opportunity that could easily be tied into the permanent pipeline system.

Development News in Nigeria >>

Azerbaijan >>  4/19/2019 - ? Next stage of development of giant ACG field in Caspian Sea ...
China >>  4/17/2019 - Fluor Corporation (FLR) announced today that its joint venture COOEC-Fluor Heavy Industries Co., Ltd. (COOEC-Fluor) fabrication yard has completed the...

Romania >>  4/15/2019 - Black Sea Oil & Gas SRL (“BSOG”) together with its co-venture partners, Petro Ventures Resources SRL (“Petro Ventures”) and Gas Plus International B.V...
Peru >>  4/10/2019 - PetroTal, the TSX-V and London AIM listed Peruvian oil and gas company, has announced that the BN 95-2-2-2XD oil development well, which commenced dri...

United Kingdom >>  4/8/2019 - Zennor Petroleum Limited (“Zennor”), through its subsidiary Zennor Pathway Limited, is currently developing the 100% owned Finlaggan field in the UK C...
Brazil >>  4/5/2019 - Karoon Energy has provided an update on the development plan status for the 100% owned Santos Basin, Brazil Neon (formerly Echidna) and Goia (formerly...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Nigeria Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 |

Oil & Gas Projects in Nigeria >>

More News

Related Links

AO BJ BW CD CG CI CM DZ EG ET GA GH GM GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.