An indigenous exploration and production company assigned as sole operator of the Dawes-Island Field in Rivers State, and a subsidiary of Petralon Energy Limited; Petralon 54 Ltd is set to boost Nigeria’s daily crude production with 2,500 barrels.
The company commenced the drilling of a second well in the Dawes-Island Field this month after the arrival of the OES Teamwork rig on the Dawes Island location from another successful operation.
With its expanded activities, Petralon 54 Ltd, is consolidating its position as a major player in the Nigerian upstream sector, and an operator with enormous capacity to create value for stakeholders.
“Drilling an oil well is an overwhelming task for any organization because of the logistics, and the investments required, but we are happy that our meticulous planning and efforts are met with good fortunes”, founder & CEO, Petralon Energy Limited, Ahonsi Unuigbe stated.
“We are emboldened to continue our economic ambassadorial role of creating value for our stakeholders – shareholders, investors, our host communities, indigenous oil servicing companies and regulators.
As an entrepreneurial indigenous oil exploration and production company, we are open to new opportunities, and ready to advance the socio-economic good of the Nigerian nation”, Ahonsi added.
In recent times, the Nigerian government has optimised production from the nation’s oil and gas assets through the creation of an enabling environment for existing and prospective investors.
The government has also been at the forefront of the ‘Project One Million Barrels per day’ initiative, which aims to increase national output by One Million barrels through a strong collaboration between the operators and the regulators in addressing every bottleneck to production.
Therefore, operators in the nation’s oil and gas sector are expected to maximise the assets assigned to them towards the economic stability of the country.
Petralon 54, which was awarded Petroleum Prospecting License No. 259 (PPL 259) by the Federal Government of the Federal Republic of Nigeria in accordance with the Petroleum Industry Act, 2021, has maintained active engagements with its communities since the award.
The organisation said, it sees its host communities as partners and stakeholders in the mutual objective of successfully developing the field. Looking ahead, Petralon Energy aims to build on its success by further increasing field production and pursuing strategic and value-driven investments to unlock additional growth opportunities in the sector.
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