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Sahara Group Upstream optimistic over prospects from OPL 274


Published Apr 15, 2015
Sahara Group

Sahara Group's Upstream affiliate Enageed Resource Ltd said it is making good progress with activities in OPL 274 where Sahara operates with a 100% working interest, even as the company continues to press towards optimizing opportunities in the block where last year it hit 'first oil'. Enageed doubled its certified 2P reserves in Oki-Oziengbe South field in Edo State, while also making a new commercial discovery with the Oluegi-1 exploration well.

According to Segun Ogunwumi, Enageed's Managing Director, the company has continued to witness steady positive outcomes in its activities in OPL 274 preparatory to moving on to the phase of commercial production from the field. 'We are doing very well with our timelines and remain focused on the target ahead. We have an amazing collection of staff who are working alongside our regulators and key stakeholders. We remain confident that we will achieve our timelines and ultimately extract maximum value from what has been a historic success so far in OPL 274,' he said.

Tags: Sahara Group




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