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Eland Oil & Gas achieves first oil at Gbetiokun oilfield

"We are delighted to reach first oil from the Gbetiokun field,” said George Maxwell, Eland chief executive.

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Initial production is expected to reach 12,000 bopd in the coming days

Eland Oil & Gas PLC (LON:ELA) has achieved first production from the early production facility (EPF) at the Gbetiokun oilfield, part of the OML 40 asset.

Production came online on 31 July and, in line with expectations, initial gross production is due to rise to 12,000 barrels of oil per day from the Gbetiokun-1 and Gbetiokun-3 wells over the next seven days.

The EPF has a nominal capacity of 22,000 bopd which allows for the addition for more wells due to be drilled later this year.

READ: Eland Oil & Gas hits the production accelerator in Nigeria

"We are delighted to reach first oil from the Gbetiokun field,” said George Maxwell, Eland chief executive.

“The team has worked hard, and I am proud we have delivered significant production from a second oil field within OML 40, marking a significant expansion and de-risking of our production base.

“Gbetiokun will deliver additional cash flow for Eland and we are excited for the development of the licence going forward, with the further infill drilling on Gbetiokun and Opuama and the near-field exploration of Amobe prospect in 2019."

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