Century Energy, Excel E&P, Millenium Oil & Gas set to produce first oil

By Udeme Akpan

THREE indigenous oil producing companies, Century Energy Exploration & Production (E&P), Excel E&P and Millenium Oil and Gas, are set to produce their first oil in Nigeria. According to Africa Oil and Gas Report, the companies have already completed fields development as well as put in place facilities for production.

The report stated: “Century Energy E&P is on course of putting the Atala Marginal Field on stream; Excel E&P has now formally started to inject about 800 barrels of crude oil per day from Eremor field into the Trans-Forcados system and sources at Millennia  Oil and Gas say it has ‘less than’ 60 days to go to complete all the remaining hook up and commissioning facilities for the start-up of the Oza field.

“The licences to these fields were awarded by the Nigerian government in 2003. The Atala field is actually held by Bayelsa Oil and Gas Company (one of the three state companies which won an asset in the 2003 marginal field round). Century is only a technical and financing partner, but its economic interest is higher than 50%.

“The field development project is funded by Eunisell Solutions, a service company which will realize its investment from the proceeds of the crude output. What remains are minor permitting issues and installation of sales line metres for evacuation purposes. 2,000 BOPD from two reservoirs will be delivered into barges and ferried into an FSO for export. Offtaker is Monaco. Part of the cash flow from Atala-1 production is expected to fund the drilling of Atala-2.”

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