Nigeria’s Belemaoil restarts operations at oil block OML 55 after 3-year shutdown

By Tife Owolabi

YENAGOA, Oct 14 (Reuters) – Nigerian independent producer Belemaoil Producing has resumed operations at its oil block Oil Mining Lease 55 after a three-year shutdown due to theft, it said on Monday.

Belemaoil acquired OML 55, located about 40 km west of the Bonny oil export terminal in a swamp to shallow water area, from Chevron Corp in February 2015.

According to the company, the block contains five oilfields that produce about 14,000 barrels per day and more than 70 million standard cubic feet of gas per day.

The arrival of the first floating oil storage vessel at OML 55 on Oct. 6 marked “a major milestone in the company’s efforts to restart production”, a company spokesperson said.

Nigeria, Africa’s top oil producer, is trying to boost crude output which has fallen in recent years due to large-scale theft and sabotage that have forced oil majors to exit onshore drilling to focus on deepwater production. (Reporting by Tife Owolabi in Yenagoa; Writing by Elisha Bala-Gbogbo; Editing by Jan Harvey)

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