Universal Energy Resources Ltd (“Universal Energy”)
is pleased to announce the commencement of crude oil production from its Stubb
Creek Field in Akwa Ibom State, following approval to embark on delivery of oil
through Exxon Mobil’s Qua Iboe Terminal, which came on-stream in early Feb.
2015.
With this achievement, Universal Energy has joined
the league of marginal oil field producing companies in Nigeria, having
successfully completed the construction of an Early Production Facility and
building of the necessary 23 km pipeline from the Stubb Creek Field to Exxon
Mobil’s Qua Iboe Terminal to enable evacuation and delivery.
Commercial oil
production from the Stubb Creek Field is at an initial gross rate of 2,000 bpd with
plans to increase the processing capacity to 8,000 bpd.
Commenting on this
milestone, Bassey Umoh, Managing Director, Universal Energy, said Universal
Energy has achieved a major milestone in the long term development plan for the
Stubb Creek Field; that is first oil from this marginal field. The marginal
field round was executed with the aim of enabling domestic companies to bring
smaller marginal fields on-stream and we are proud to have achieved this.
As a team, Universal Energy wishes to express sincere
appreciation and thanks to everyone who provided support and significantly contributed
to the successful completion of the Stubb Creek Early Production Facility Project
in Unyenge, Mbo Local Government Area; from conceptualisation, through to development
and achieving first oil delivery. Particular thanks to our esteemed Board Chairman
and Members, Seven Energy International Limited
(which owns 62.5% equity interest in Universal Energy), other shareholders, our
Joint Venture Technical Partner - Sinopec International
Petroleum Exploration & Production Company (Nigeria) Ltd and the current Universal Energy management team
and our retired and serving staff. We also value the immense contribution of Universal
Energy project team and the numerous contractors, suppliers and vendors that
have all played a part in the accomplishment of this goal in the development
journey of the Stubb Creek Field.post by expdonaloaded.blogspot.com..Universal Energy appreciates the support of the Federal
Government of Nigeria and its functionaries, the Akwa Ibom State Government,
relevant Government Regulatory Agencies including Department of Petroleum
Resources (DPR), Federal Ministry of Environment (FMEN), Federal Ministry of
Trade and Industry (FMTI), Nigerian National Petroleum Cooperation (NNPC) Commercial
Division, Nigeria Content Development Management Board (NCDMB), as well as Nigeria
Security Agencies. Lastly but most importantly, we would like to commend our host
communities in Akwa Ibom State for their support in creating a conducive environment
for our operations and granting us access to operate in the immediate and outer
communities.
We would like to offer our assurance that Universal
Energy will continue to uphold the Industry Best Practices while carrying out
its operations and in accordance with the Laws of the Federal Republic of
Nigeria.
Bassey Umoh
Managing Director, Universal Energy
No comments:
Post a Comment