Sigmund Oil, Emadeb Energy, Casiva Ltd, Duchess Energy, Duport Midstream, Shafa, others get marginal oil fields
By Eyo Nsima
Indigenous oil firms, Sigmund Oil, Emadeb Energy, Casiva Ltd, Duchess Energy, Duport Midstream, A.A. Rano, Shafa Exploration, Matrix Energy, and Vhelblerg Exploration, have received their marginal oil fields letters from the Department of Petroleum Resources.
Presenting the letters in Abuja, DPR Director/CEO, Engr. Auwalu Sarki, said: “The journey began exactly one year ago, 1st June 2020 with the launching of the Bid round registration portal. The portal eased the registration and application process and ensured a transparent exercise.
“It also provided the platform for the virtual data room. It is important to state that the industry-enabled National Data Repository (NDR) provided all the requisite technical and logistics support for the successful conduct of the exercise”.
He also said: “With the lessons of the previous exercise we want to refocus, change the approach, we have developed a strategy to ensure you (the companies) and the awarded fields achieve early development.
“The DPR will continue and guide all of you every step of the way. For instance, the guiding template for working agreement has been drafted for joint awardees and discussions have reached advance stage between DPR and leaseholders on the farm-out agreement.”
Sarki further expressed optimism that the development of the oil fields will stimulate job creation because “all the awardees have to recruit people which mean more taxes and revenue to the government and at the same time it enhances the GDP because the contribution of the industry to the GDP is very low”.
He said: “What DPR did was evaluate various recovery factors. We saw the average recovery value that we do have now, ranges from 27-38. If we increased this by five percent only across, we will hit the 40 billion barrels and at the same time, we will hit above three million barrels.
“We have identified 7,000 reservoirs and we are producing from about 1,700 reservoirs. We took each of the producing reservoirs to see what kind of enhanced oil recovery that we need to put and once we put the secondary and tertiary recovery methods, technically we grow the reserves and production for the country”.
Responding on behalf of the big winners, the Chairman of Vhelblerg, Bank Anthony Okoroafor, said the exercise was transparent.
He also, said: “It was open to everybody, there was communication established with everybody and they did their own work very well.”
