An indigenous firm, Midwestern Oil & Gas Company Ltd. and its Joint Venture (JV) partners, SunTrust and others, on Tuesday inaugurated four multi-million dollar oil facilities in Delta.
Mr Charles Odita, Group Managing Director, Midwestern Oil & Gas company, told newsmen at Umusadege, the location of the facilities, that they were aimed at optimising hydrocarbon recovery with low cost.
Umusadege is in Kwale, Ndokwa West Local Government Area of the state.
He said the company which operated OML 56, increased its oil processing capacity from 25,000 barrels per day to 40,000 barrels per day.
Odita explained that despite the daunting challenges posed by regulatory agency restrictions and the capital-intensive nature of the project, the group was able to upgrade.
“Diligent management of resources and cooperation of the partners were able to surmount all obstacles and come up with the resultant investment,” he said.
He also said the group had also stepped up gas processing capacity from 15 million to 25 million standard cubic feet per day and its storage capacity from 29,000 to 110,000 barrels of oil per day.
He said the newly acquired two compressors would deliver 6.5 million standard cubic feet of gas each.
“The value of the three-fold increment in our gas processing, oil processing and storage is immense.
“By adding the two compressors that will deliver 6.5 million standard cubic feet 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,” he added.
Also, the company’s Asset Manager, Mr Adeche Omotosho-Oboro, said the projects were completed with zero incident or accident.
“That is why we must thank God,” he said. (NAN)
