Eland Oil and Gas Plc, the oil and gas exploration and development company with a focus on Nigeria and West Africa, has resumed production on the Opuama field in Oil Mining Lease (OML) 40, after a number of production interruptions, including a prolonged shutdown of the Forcados Export Terminal and pipeline ruptures due to corrosion and illegal bunkering.
The company had resumed production on the field in February 2014, exactly seven years after Shell Petroleum Development Company (SPDC) undertook a controlled shut down of its oil and gas facilities, including OML 40, due to militant attacks on oil workers and infrastructure in the Niger Delta.
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Hope for improvement in power supply in Nigeria has been rekindled as French oil giant, Total has stated that it has built a $900 million worth of pipeline infrastructure to supply gas from the company’s Oil Mining Lease (OML) 58 to the 964 megawatt-capacity Alaoji Power Station in Abia State.
The new Managing Director of Total Upstream Companies in Nigeria, Mrs. Elisabeth Proust, who confirmed this investment to THISDAY at the weekend, however, stated that for the investment of such magnitude to be economic in Nigeria, the price of domestic gas should be increased from its current level of $2.5 to $7 per million British Thermal Unit (BTU).
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