Neconde Energy targets 70,000bpd from OML 42

Neconde Energy Limited, the Exploration and Production subsidiary of the Obijackson Group, said it is targeting 70,000 barrels per day (bpd) output from its oil mining lease, OML 42 located in the West Delta.

The Managing Director of the company, Frank Edozie, who made this disclosure in a statement yesterday, added that the company had taken some strategic steps, such as the rehabilitation of the Batan and Odidi flow stations, to enable it achieve the targeted peak gross production level.

Edozie said Neconde had also engaged in the revamping of Jones Creek and Egwa fields for the work-over of existing wells, and the development of others. These included the refurbishing of a gas Central Processing Facility (CPF) in Odidi as well as the commencement of re-entry of Odidi, Jones Creek fields Egwa 1 & 2.

He acknowledged the centrality of employees to the success of the organisation, saying: “our workforce has remained a key factor in the evolution of Neconde, and their wellbeing remains important to us. We are a people-centered organisation, so the value we place on employees is not just because we know that our continued existence is dependent on them, but mainly because every human being deserves a good life, and should be treated fairly.

“For instance, a component of our strategic goal for the year is to achieve an estimate of 70,000bpd. This has led us to develop “barged production,” as an alternative to crude evacuation using the Trans Forcados Pipeline, which has been out of service since 13th February, 2016.

“Additionally, we had to relocate our operations to Warri from Lagos, for us to be closer to the base to better enable us to meet our goals of increasing our contributions to the Nigerian economy. Expectedly, this relocation meant redeployment of employees to the new location, and this was executed in a manner that the associated inconveniences to employees were duly considered and properly mitigated.”

Edozie described Neconde as “an indigenous exploration and production company with strong management and extensive in-country experience, so we are fully aware of the challenges facing our sector. And as a key Nigerian player, our goals and aspirations include creating value from every constituent of our stakeholder network which includes employees, our host communities.”