Heritage Energy & Oil Services Limited in partnership with its joint venture partners has projected to achieve 100,000 barrels per day crude output by the year 2030.
The company’s current output stands at 45,000bpd.
The oil firm which is the operator of Oil Mining Lease, OML 30 on behalf of Shoreline Natural Resources/ NNPC Exploration and Production Limited (NEPL), disclosed this when the leadership of the company visited the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Felix Omatsola Ogbe at the NCDMB, Lagos liaison office.
A statement from the Corporate Communication Department of NCDMB on Tuesday, disclosed that discussions at the meeting focused on the short, medium, and long term plans around their asset.
The statement said that the group thanked the NCDMB, for supporting their operations and solicited for accelerated approval of documents relevant to their tenders for drilling and other projects.
“The group’s plan is to grow production from the current 45,000 barrels per day (bpd) to 100,000 barrels per day (bpd) by 2030.
“This growth projection would require substantial investment, including drilling several new wells,” the officials said.
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The officials confirmed that their consortium has kicked- off a four-rig campaign to boost production, focusing on underdeveloped fields, and gas development, which would support Nigeria’s gas master plan, and exploration.
They added that they anticipate a significant production increase in oil productionz over the next five years from these initiatives.
“”It’s not just about increasing output; it’s about local economic development, job creation, and sustainable resource utilization.
“We are also investing in produced water disposal to enhance operational efficiency and optimize production.
“Our strategic investment also includes flare gas gathering/gas development and monetization, unlocking a new value stream for the asset.
“Additionally, we are revamping and investing in the Trans Forcados Pipeline, to support the expected increased production from OML 30z and other assets that leverage the pipeline for crude evacuation”.
Executive Secretary of the NCDMB, Felix Omatsola Ogbe, commended Heritage and the entire OML 30 team, for the strides they have achieved with their operations.
He assured that the NCDMB would support their investment plans, which would lead to increased oil and gas production, job creation, and economic enhancement in line with President Bola Tinubu’s renewed hope agenda for the country.
