This was disclosed to newsmen on Tuesday at Umusadege in Kwale, by the Group Managing Director, Emeritus, Midwestern Oil & Gas Company Limited, Operator of OML 56, Mr. Charles Odita.
Odita said that despite the daunting challenges posed by
regulatory agency restrictions and the capital-intensive nature of the project, they overcame with focus on the new projects, which is aimed at optimizing hydrocarbon recovery with low cost.
He also said that the companies have also stepped up gas process capacity from 15 to 25 million standard cubic feet per day and its storage capacity from 29, 000 to 110, 000 barrels of oil per day facilities, while confirming the acquisition of two compressors that would deliver 6.5 mmscf of gas each, which were among the multi million dollars project.
“While major challenges arose from regulatory agency restrictions and the capital-intensive nature of the project, diligent management resources and cooperation of the partners were able to surmount all obstacles and come up with the resultant investment.
“Today is a memorable and glorious day in the history of oil and gas in Nigeria, as we, (Midwestern Oil & Gas Company Limited) with our JV partners are commissioning four major projects. Abandonment of such projects in our industry is not unusual and we are indeed proud of this remarkable achievement”, he added.
Odita also said, “The value of the three-fold increment in our gas processing, oil processing and storage is immense and by adding the two compressors that will deliver 6.5 mmscf of gas, we have set a course for a bright future for us and our Joint Venture partners.
“We have also positioned our host communities for industrial excellence, and this is due to the cordial support they have granted us from the onset of our operations in their communities.
“On a personal note, I am grateful to God because no sooner had I joined the company as managing Director, the price of crude oil plummeted from $150 to $29 dollars per barrel.
”So, most of the time that I was Managing Director, we grappled with low oil price and limited resources. In spite of all that, we were able to apply resources judiciously to the current success of the company”, he recalled.
Also, Midwestern Asset Manager, Mr. Adeche Omotosho-Oboro confirmed, “the projects were completed with zero incident or accident despite the project going on simultaneously with oil activities and heavy equipment being installed with millions of man-hours, yet no casualty of any kind! That is why we must thank God.”
Midwestern Oil & Gas Company Limited is an indigenous Oil & Gas Company. The operator of Umusadege field located in OML 56, Delta.
Midwestern has interests in Umugini Pipeline Infrastructure Limited (UPIL), the pipeline company which constructed the 51.4km pipeline from Umusadege to Eriemu for injecting crude into the Trans-Forcados Pipeline. Midwestern also owns an interest in OML 18.
