The Nigerian Content Development and Monitoring Board (NCDMB) has offered to facilitate investment initiatives of Heritage Energy as the oil Company presents its oil production strategy aimed at improving current capacity.
Heritage Energy and its Joint Venture (JV) partners are planning to grow production from the current 45,000 barrels per day (bpd) to 100,000 barrels per day (bpd) by 2030.
The JV partners include Shoreline Natural Resources, and NNPC Exploration and Production Limited (NEPL).
Heritage is the operator of OML 30 on behalf of Shoreline/NEPCL JV, and the discussions focused on the short, medium, and long term plans around their asset.
This growth projection would require substantial investment, including drilling several new wells, the officials said.
The leadership of Heritage Energy & Oil Services Limited and its JV partners recently presented the group’s strategic plans when they visited the Executive Secretary of the NCDMB, Engr. Felix Omatsola Ogbe, and received assurances of support for their operations on oil mining lease (OML) 30.
The officials confirmed that their consortium has kicked off a four-rig campaign to boost production, focusing on underdeveloped fields, gas development, which would support Nigeria’s gas master plan, and exploration. The company officials added that, “we anticipate a significant increase in oil production over the next five years from these initiatives. It’s not just about increasing output; it’s about local economic development, job creation, and sustainable resource utilisation. We are also investing in produced water disposal to enhance operational efficiency and optimize production.
“Our strategic investment also includes flare gas gathering/gas development and monetization, unlocking a new value stream for the Asset. Additionally, we are revamping and investing in the Trans Forcados Pipeline (TFP), to support the expected increased production from OML 30 and other assets that leverage the TFP for crude evacuation.”
In his remarks, the executive secretary commended Heritage and the entire OML 30 team for the strides they have achieved with their operations, while assuring that, NCDMB would support their investment plans, which would lead to increased oil and gas production, job creation, and economic enhancement in line with President Bola Tinubu’s renewed hope agenda for the country.
The group commended the NCDMB for supporting their operations and solicited for accelerated approval of documents relevant to their tenders for drilling and other projects.
The documents include: Technical Invitations to Tender, Technical and Commercial Evaluation Template, Nigeria Content Compliance Certificates, Letter for approval of Human Capacity Development Trainings and other support to enable the company comply fully with the provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act.
The NCDMB ES, highlighted several initiatives the agency was championing, as well as its partnership with international and indigenous oil producing companies to accelerate oil and gas projects and crude oil production, in line with Mr. President’s charge to the oil industry.
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