Skip to content

Philippines Today

home of the Global Filipino

Menu
  • News Stories
  • Regional News
  • Business & Economy
  • Science & Technology
  • International
Menu

Gabon, Africa consortium targets oil production of 25,000 barrels per day by November

Posted on April 22, 2015

By Juzel L. Danganan

CATICLAN, April 22 (PNA) — The Gabon consortium is targeting to boost its oil production to 25,000 barrels per day from its current output of 19,000 barrels per day by November.

”Currrently, we are producing 18,000 to 19,000 barrels of oil per day. We just recently completed two new platforms in Southeast Etame and central Etame, where oil production should slowly go up by 25,000 barrels of oil a day by November 2015,” Petroenergy Resources Corporation (PERC) Vice President Francisco Delfin Jr. told reporters.

PERC has a 2.525 stake in the oil exploration project, while Houston-based Vaalco Energy is the service contract operator.

Delfin said the consortium had to install two platforms and drill six wells to attain the 25,000 oil barrels production. The expansion cost USD 525 million, while PERC contributed USD 13 million.

He expects the increased oil production will also bring gains to PERC’s revenues.

Vaalco Energy reported it has gone into first production on April 14, with its development well Etame 12-H.

However, Vaalco said the well cannot increase output above the production level due to optimization works.

Another well, Etame 10-H began producing oil barrels, with a rate of 3,000 per day, on February 2015.

Other consortium members are Sojitz Etame Ltd., PanOcean Energy Gabon Corp., Sasol Petroleum West Africa Ltd. and Energy Africa Gabon SA. (PNA)

Share this:

  • Facebook
  • Twitter
  • LinkedIn
  • Pinterest
  • More
  • Tumblr
  • Reddit

Related

News Categories

  • Announcement (34)
  • Business & Economy (1,567)
  • Comment and Opinion (74)
    • Random Thoughts (18)
  • Current Issues (425)
    • Charter Change (1)
    • Election (228)
    • Population (6)
  • International (389)
  • Life In Japan (66)
    • Everything Japan (41)
  • Literary (34)
  • Miscellaneous (610)
  • News Stories (5,312)
  • OFW Corner (297)
  • Others (75)
  • People (408)
  • Press Releases (163)
  • Regional News (3,362)
  • Science and Technology (502)
  • Sports & Entertainment (287)

Latest News

  • BSP keeps policy rates anew December 17, 2015
  • NEDA cuts PHL additional rice import for 2016 by 25% December 17, 2015
  • DA cites serious implications of banning genetically modified products December 17, 2015
  • BBL is not yet dead – Drilon December 17, 2015
  • Comelec recognizes Duterte’s CoC for president December 17, 2015
  • NEDA chief sees 2015 growth at 6% despite typhoons December 17, 2015
  • House of Representatives ratifies bicam report on P3.002-T national budget for 2016 December 17, 2015
  • Cebu-based developer invests PHP430M to build 709 townhouse units in north Cebu town December 17, 2015
  • City gov’t eyes P75-M income from economic enterprise December 17, 2015
  • Baguio City LGU presents traffic plan for holiday season December 17, 2015

Archives

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

Science and Technology

  • DOST-ICTO targets 500,000 web-based workers from countryside by 2016
  • (Feature) STARBOOKS: A ‘makeover’ for librarians
  • Science, research reduce ‘cocolisap’ hotspot areas in PHL
  • Montejo to further improve PAGASA and empower scientists
  • 1st PPP in biomedical research produces knee replacement system fit for Asians

Press Releases

  • Microsoft to buy Nokia’s mobile devices business for 5.44-B euros
  • New World Bank climate change report should spur SEA and world leaders into action: Greenpeace
  • Save the Philippine Seas before it’s too late — Greenpeace
  • Palanca Awards’ last call for entries
  • Philippines joins the global call for Arctic protection

Comment and Opinion

  • Remembering the dead is a celebration of life
  • Killer earthquake unlikely to hit Panay Island in near future – analyst
  • It’s not just more fun to invest in the Philippines, it is also profitable, says President Aquino
  • How does one differentiate a tamaraw from a carabao?
  • Fun is not just about the place, it is also about the people, says DOT chief

OFW Corner

  • Ebola infection risk low in Croatia
  • Death toll rises to 41, over 100 still missing in landslide in India
  • Asbestos use in construction a labor hazard
  • 500,000 OFWs to benefit POEA on-line transactions — Baldoz
  • 25 distressed OFWs return home from Riyadh
©2025 Philippines Today | Design: Newspaperly WordPress Theme