Aradel Achieves First Oil Milestone at Omerelu Field in Rivers State

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Aradel Holdings Plc has achieved a significant milestone with the successful re-entry of Well 2ST at the Omerelu Field, resulting in the attainment of First Oil on May 31, 2024.

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This achievement marks a pivotal moment in the company’s operational history and underscores its commitment to resource development and growth.

The Omerelu Field, located approximately 42km North-West of Port Harcourt in Rivers State, Nigeria, is under Petroleum Prospecting Licence (PPL) 247. Aradel Energy Ltd, a fully-owned subsidiary of Aradel Holdings Plc, acquired a 100 percent stake and operatorship of the field in 2014 from the NNPC/Chevron Joint Venture.

Aradel Holdings Plc expressed gratitude to all stakeholders involved, including vendors, local communities, regulatory agencies, and dedicated employees, whose collaboration was instrumental in overcoming challenges during the re-entry and well-completion processes. The company emphasized its commitment to highest safety standards and environmental stewardship throughout the project.

Adegbite Falade, CEO and Managing Director of Aradel Holdings Plc, highlighted the strategic importance of achieving First Oil from the Omerelu Field in enhancing the company’s production capabilities and extending its reserves profile. He affirmed that this milestone aligns with Aradel’s vision of delivering sustainable energy solutions to support economic growth in Nigeria.

Aradel has received approval for well testing, a crucial step towards converting the field’s Petroleum Prospecting Licence (PPL) into a Petroleum Mining Lease (PML) following regulatory procedures. The successful re-entry and commencement of oil production at Omerelu Field are part of Aradel’s 2024 Exploration and Appraisal Drilling Campaign aimed at optimizing existing assets and expanding operational capacities.

Emman Tochi
Emman Tochihttps://naija247news.com
Emma Tochi is Naija247news Media Northern Bureau Chief, he's based in FCT Abuja. He overseas the northern operations of this business media

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