Local oil firm adds 75,000 bpd to Nigeria’s crude output

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By Sebastine Obasi

Nigeria’s oil production has received a boost as Salvic Petroleum Resources Limited, an indigenous company has increased production in its Oil Mining Lease, OML 30, regarded as the country’s second largest onshore oil and gas asset, from zero-level to 75,000 barrels per day, bpd.

Oil Located at about 35 kilometres East of Warri in Delta State and with capacity to produce an estimated one billion barrels of oil, OML 30, covering 1,095 square kilometres, consists of 11 oil fields, nine flow stations, the Ughelli tank farm and the Trans Forcados Pipeline (TFP).

A source in the company stated that: ‘’Salvic achieved the feat without drilling any new wells as it put in place a work programme of creative and innovative solutions that optimised production and unlocked value from the legacy infrastructure and old equipment”.

Related Indigenous E&P company set 90,000bpd record oil production April 4, 2017 Marginal fields contribute less than 4% of oil output September 6, 2016 Nigeria oil production receives 61,000bpd boost January 3, 2017

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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