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Eland Oil & Gas preparing to start producing from Opuama-8 well

Published: 07:48 17 Jan 2018 GMT

oil and gas operations
Opuama is currently producing 18,000 bopd from three wells, two more are on the way

Eland Oil & Gas PLC (LON:ELA) has confirmed that the Opuama-8 well has now been drilled and handed over to the field production team.

The Elcrest joint venture subsidiary successfully drilled and completed the well, which is now expected to be flow tested before it goes into production.

READ: Eland Oil & Gas announces Opuama-8 well success

It is expected that the well will yield between 5,000 and 7,000 barrels of oil production per day, which is in line with previous guidance.

The rig has moved to the Opuama-9 location and drilling is expected to start for that well in February, with production from the well forecast to be between 4,000 to 6,000 bopd starting during the first quarter.

Overall the production performance of the Opuama field is described as “strong” with gross output of around 18,000 bopd from the Opuama-1, Opuama-3 and Opuama-7.

"We are pleased with the successful drilling and completion of the Opuama-8 well and we look forward to confirming stabilised production rates in due course,” said George Maxwell, Eland chief executive.

READ: Eland Oil & Gas starts production from Opuama-7 well

“The success of Opuama-8 will result in increased production and cash generation from OML 40.

“Our drilling programme will continue beyond Opuama-9, where our continued investment will further enhance both production and cash flow levels."

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