29th July, 2011
Millennium Oil & Gas Company Limited, MOGCL, operators of the Oza Marginal Field, OML 11, has successfully re-entered and completed flow-back tests on its Oza Well No. 4, in the course of re-establishing production at the state-of-the-art oil facility in Abia State .
This leap for MOGCL comes as scores of marginal field owners are still grappling with the challenges of sourcing funds required to put their fields into production, following the Federal Governmentâ€™s recent extension of permits for the fledgling marginal field programme.
The company, with the supervision of the Department of Petroleum Resources, DPR, is now bracing itself to commence Downhole Reservoir and Maximum Efficiency Rate, MER, tests to establish reservoir properties as well as determine optimum surface and down-hole production parameters.
The Acting Managing Director of MOGCL, Mr. Chiedu Ebie applauded the progress made by his team, describing it as a very significant milestone as they draw closer to getting to the first-oil target as early as possible. Ebie, however, said MOGCL had to confront the challenges of coordinating finance and the deployment of technology to get this far.
The company, he adds, now eagerly looks forward to start contributing towards increasing Nigeria â€™s crude oil daily production soon, in line with the Federal Government’s commitment to the marginal field programme.
Millennium Oil now joins other marginal field operators such as Energia, Platform, Walter Smith, Mid Western Oil and Niger-Delta Producing Company.
Ebie reiterated MOGCLâ€™s commitment to the marginal field project, and stressed its efforts so far towards transforming of the once â€˜unprofitable assetâ€™, inherited from Shell Petroleum, into a lucrative one as very laudable; given the enormous challenges indigenous producers are faced with.
He, however, commended the state governor and other government agencies in the area for their dedication to combating crime, describing the recently uncovered illegal bunkering activities as very detrimental to the growth and development of the people.