Heritage Energy targets 100,000bpd oil production

Heritage Energy says it plans to raise daily crude production from 45,000 barrels per day to 100,000 bpd in 2030.

Heritage is the operator of OML 30 on behalf of Shoreline Natural Resources and NNPC Exploration and Production Limited.

The leadership of the company disclosed its future plans when it recently visited the Executive Secretary of the Nigerian Content Development and Monitoring Board, Felix Ogbe, and received assurances of support for their operations on oil mining lease (OML) 30.

In a statement by the NCDMB, it was disclosed that the meeting was held at NCDMB’s Lagos liaison office, and the oil company visited with their JV partners, Shoreline Natural Resources, and NNPC Exploration and Production Limited.

The Chief Executive Officer of Heritage Energy Operational Services Ltd, Ado Oseragbaje, appreciated the NCDMB for supporting the company’s operations and solicited accelerated approval of documents relevant to their tenders for drilling and other projects.

The documents include the Technical Invitations to Tender, the Technical and Commercial Evaluation Template, the Nigeria Content Compliance Certificates, the Letter for Approval of Human Capacity Development Training, and other support to enable the company to comply fully with the provisions of the Nigerian Oil and Gas Industry Content Development Act.

“The group’s plan is to grow production from the current 45,000 barrels per day to 100,000 barrels per day by 2030. This growth projection would require substantial investment, including drilling several new wells,” the officials said.

The officials confirmed that their consortium has kicked off a four-rig campaign to boost production, focusing on underdeveloped fields and gas development, which would support Nigeria’s gas masterplan and exploration.

The officials added, “We anticipate a significant production increase in oil production over the next five years from these initiatives. It’s not just about increasing output; it’s about local economic development, job creation, and sustainable resource utilisation. We are also investing in produced water disposal to enhance operational efficiency and optimise production.

“Our strategic investment also includes flare gas gathering/gas development and monetisation, unlocking a new value stream for the asset. Additionally, we are revamping and investing in the Trans Forcados Pipeline to support the expected increased production from OML 30 and other assets that leverage the TFP for crude evacuation.”

In his remarks, the Executive Secretary commended Heritage and the entire OML 30 team for the strides they have achieved with their operations.

He assured that NCDMB would support their investment plans, which would lead to increased oil and gas production, job creation, and economic enhancement in line with President Bola Tinubu’s Renewed Hope Agenda for the country.

The NCDMB helmsman highlighted several initiatives the agency was championing, as well as its partnership with international and indigenous oil-producing companies to accelerate oil and gas projects and crude oil production, in line with Tinubu’s charge to the oil industry.

OML 30 lies onshore within the Niger Delta, in one of the most prolific oil and gas provinces in the world.

The license covers 1,097 square kilometres and includes eight producing fields such as Olomoro, Oleh, Uweh, Uzere, Ewvreni, Eremu, Oroni, Kokori, and several other partially appraised fields with oil and gas contained in numerous stacked reservoirs.