Oando Energy completes Umugini pipeline

Oando Energy Resources Inc.

Oando Energy Resources Inc. (TSX: OER), a company focused on oil and gas exploration and production in Nigeria, has completed the 45,000-bbl/d, 51-kilometer Umugini pipeline, which will provide an alternative evacuation route for crude oil produced from the Ebendo Field through the Trans Forcados export pipeline.

Following the drilling of Ebendo wells 5, 6, and 7 over the past 12 months, oil production capacity within OML 56 has grown to 7,140 boep/d gross for OER and Energia Ltd., the operator of the asset (3,052 boep/d net to OER). However, export had been constrained at 3,093 boep/d (1,322 boepd, OER share) via the Agip operated Kwale-Brass NAOC/JV infrastructure, in which OER currently has a 20% interest through the recent $1.5 billion acquisition of the ConocoPhillips Nigerian oil and gas business. The completion and commencement of operations on the Umugini pipeline ensures that the Ebendo field can now produce at its full capacity.

Ebendo is located onshore, in the central Niger Delta approximately 100 kilometers northwest of Port Harcourt and covers an area of 65 square kilometers (16,062 acres). The license includes two fields: Ebendo (producing) and the Obodeti field (undeveloped). Oando Energy Resources holds a 42.75% working interest on the field.

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