Heritage Oil reported Wednesday its OML 30 concession in Nigeria is back to producing more than 35,000 barrels of oil per day (bopd) now that the firm has resolved the problems that affected production during the first quarter.
Heritage said that work is underway that has the objective of optimizing existing facilities, including gas lift, which will enable production rates to increase further during the remainder of the year. The firm expects 2013 gross production from the OML 30 fields will average 35,000 bopd.
In the long term, Heritage is targeting a significant increase in production to 300,000 bopd and the firm plans to drill new wells in the second half of 2014. Infrastructure is in place that has a capacity to handle 395,000 barrels per day.
Heritage CEO Tony Buckingham commented in a statement:
"We are delighted that production levels are back over 35,000 bopd gross for the licence and that the issues encountered earlier in the year have been resolved. The work schedule is progressing in line with our update last month and we are on track to meet our production target for the full year."
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