• Sunday, February 25, 2024
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Orient Petroleum to hit 3,000bpd production mark in September – MD


Sunny Okoye, managing director, Orient Petroleum Resources plc, said on Monday that the firm would increase the production of crude oil in its wells to 3,000 barrels per day (bpd) in September.

Okoye said this in Awka, the Anambra State capital, after a meeting of its board of directors with Governor Willie Obiano of Anambra.

He said the firm had also planned with an indigenous company known as Nails and Stanley Limited to establish a gas plant in Umueje in Ayamelum Local Government Area of the state.

Okoye said the company had revved up activities in two new oil wells in its Aguleri oilfields that would shore up the production capacity to 3,000bpd before September.

According to him, Orient is not only working assiduously on boosting the production capacity of its oil wells, the company is also developing the vast gas resources in the state.

“We are dealing with gas development on two fronts. The first one is the gas production we have right now, side by side with oil.

“We are looking at how to transform it to an income earning resource,’’ Okoye said.

He said the drive to turn its gas resources into an income earner informed the partnership it recently struck with Nails and Stanley to produce Compressed Natural Gas (CNG).

“We are engaging Nails & Stanley for that. They are on track to install their compressor cans very soon and as soon as we are ready to flag their operations off in the state.

“We are going to develop the ANU Gas Field. We have a well, which we are going to use to produce sufficient gas for increased power production in the state. That’s the second plank of our gas development plan,’’ he said.

He said also that Nails and Stanley was a wholly owned indigenous company operated by some Anambra indigenes eager to lend hand to ongoing efforts to build a prosperous state.