Petralon 54 Ltd to Boost Nigeria’s Daily Crude Oil Production by 2,500 Barrels

• Petralon 54 Ltd, an indigenous relation of the Dawes-Island Field successful Rivers State, is boosting Nigeria’s regular crude accumulation by 2,500 barrels with the drilling of a 2nd well
• The company, backed by Petralon Energy Limited, is strengthening its relation successful the upstream lipid assemblage portion engaging intimately with its big communities
• Supported by authorities initiatives similar Project One Million Barrels per Day, Petralon plans to grow output further and prosecute strategical investments for aboriginal growth

Legit.ng writer Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

Nigeria's regular crude accumulation is expected to summation by 2,500 barrels acknowledgment to Petralon 54 Ltd, an indigenous exploration and accumulation institution that is the sole relation of the Dawes-Island Field successful Rivers State and a subsidiary of Petralon Energy Limited.

The Nigerian authorities has precocious maximised accumulation from the country's lipid and state resources. Photo Credit: Contributor
Source: Getty Images

Following the accomplishment of the OES Teamwork rig astatine the Dawes-Island determination from different palmy operation, the institution started drilling a 2nd good successful the Dawes-Island Field this month.

Petralon 54 Ltd is solidifying its presumption arsenic a important subordinate successful the Nigerian upstream industry and arsenic an relation with immense imaginable to make worth for stakeholders done its accrued operations.

“Drilling an lipid good is an overwhelming task for immoderate organisation due to the fact that of the logistics and the investments required, but we are blessed that our meticulous readying and efforts person been met with bully fortune,” said Ahonsi Unuigbe, Founder & CEO of Petralon Energy Limited.“We are emboldened to proceed our economical ambassadorial relation of creating worth for our stakeholders – shareholders, investors, our big communities, indigenous lipid servicing companies, and regulators. As an entrepreneurial indigenous lipid exploration and accumulation company, we are unfastened to caller opportunities and acceptable to beforehand the socio-economic bully of the Nigerian nation,” Ahonsi added.

By creating a favourable clime for existent and imaginable investors, the Nigerian authorities has precocious maximised accumulation from the country's lipid and state resources.

The authorities has besides taken the pb successful the "Project One Million Barrels per Day," which seeks to boost nationalist output by 1 cardinal barrels by resolving each accumulation bottleneck done a beardown concern betwixt operators and regulators.

Operators successful the country's lipid and state manufacture are truthful required to maximise the resources entrusted to them successful bid to enactment the nation's economical stability.

In compliance with the Petroleum Industry Act of 2021, the Federal Government of the Federal Republic of Nigeria granted Petralon 54 Petroleum Prospecting License No. 259 (PPL 259). Since then, the institution has continued to actively prosecute with its communities.

The organisation views its big communities arsenic stakeholders and partners successful the shared extremity of efficaciously advancing the field.

In the future, Petralon Energy hopes to physique connected its achievements by expanding tract output adjacent further and pursuing value-driven, strategical investments to unfastened up caller maturation prospects successful the industry.

Petralon Energy hopes to physique connected its achievements by expanding tract output. Photo Credit: Contributor
Source: Getty Images

Nigeria gains caller presumption successful Africa

Legit.ng reported that the Nigerian Upstream and Petroleum Regulatory Commission (NUPRC) has announced that Nigeria's authoritative petroleum reserves have accrued to 37.28 cardinal barrels of crude lipid and condensate, on with 210.54 trillion cubic feet of earthy gas.

The NUPRC disclosed this precocious successful a release, declaring the country’s reserve presumption successful crude lipid and earthy gas.

According to the merchandise signed by NUPRC main enforcement officer, Gbenga Komolafe, Nigeria’s proven (2P) crude lipid and condensate reserves basal astatine 31.44 cardinal barrels and 5.84 cardinal barrels respectively.

PAY ATTENTION: Сheck retired quality that is picked exactly for YOU ➡️ find the “Recommended for you” artifact connected the location leafage and enjoy!

Source: Legit.ng