Oil Firm Targets Full Production Q1 2023

Halkin Exploration and Production Limited (HEPL) has announced plans to commence full exploration and production activities in the first quarter of 2023.

At a press conference to rebuff claims going round in the news that it got the Atala field formerly OML 46 marginal field license illegally, the director of Communications, Halkin, Osagie Amusa-Eke, said over $30 million has been invested so far in the facility which has the capacity to produce 1500 barrels per day by time it starts full production early next year.

He also stated that plans are ongoing to drill more wells, calling on the federal government to give tax break for new companies in the oil and gas industry.

According to him, after over a year that the Atala Field whose licensed was revoked by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in line with Nigeria’s petroleum laws, Halkin legally applied and was duly awarded the OML 46 to operate, on the condition that Halkin brought the field into full production where a signature bonus of over $8 million was paid to the federal government.

“As a responsible private company only interested in conducting legitimate business, it is really unfortunate that HEPL has found itself distracted by this situation. Today we seek to set the record straight with nothing but the truths and facts of the matter,” he added.

He said, in 2003, the then Department of Petroleum Resources (DPR) issued 13 licenses to indigenous oil firms, but however stressed that on the expiration deadline of 2018, the Atala Field had yet to come into full production.

“Following the failure to bring the field into full production, the Atala Field license was then revoked and returned to the basket as approved by president Muhammadu Buhari. Over a year after, the license was revoked by the NUPRC.

“Halkin legally applied and was duly awarded the OML 46 to operate, on the condition that Halkin brought the field into full production. When there were petitions to Halkin being awarded the license, Halkin was cleared by NUPRC after a thorough investigation of Halkin’s application process,” he said.

He pointed out that, within a year of taking over the Atala field, it has invested millions of dollars into its operations, with over 100 Nigerian personnel operating on site.

He noted that Halkin is committed to bringing the Atala Field to full production to increase the federal government’s revenue.