Previously part of OML 17, the marginal field could contain up to 66.9 million barrels of oil and 2.7 bcm (97 bcf) of non-associated gas from two reservoirs. The company estimates that the field’s full work programme of four wells will require $125 million, to be partially funded from extended production tests. These wells could produce as early as within nine to twelve months of the programme’s start.
The firm expects year-end production from its OML 40 site, where it acquired a 45-percent stake in 2012, to stand at 7,000 barrel of oil per day.
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