Eland Oil & Gas Plc (LON:ELA) told investors it expects to complete flow testing of the Opuama-3 well in Nigeria over the coming weeks, following a work-over.
It was envisaged that the well’s output would rise by 50-100% as a result of this new workover to the producing well.
The company said operations are underway, and work so far has removed uncertainty in regards to oil and water producing intervals in the well.
A water ‘shut off’ will now be performed, before the team perforate the D2000 reservoir as well as the additional D1000 reservoir. These two reservoirs are expected to yield a further 2,000 to 4,000 barrels of oil per day for the well, Eland added.
George Maxwell, Eland chief executive, said: "We are pleased to announce that workover operations have commenced on Opuama-3, as we predicted in our operational update on 16 February this year.
“We look forward to positive news as we perforate two new zones which we believe to be highly productive and which potentially could almost double reported production rates from OML 40 at a relatively minimal cost".