Aberdeenshire-based Eland Oil and Gas has announced it will complete the Gbetiokun-3 appraisal well in January ahead of the start-up of an early production system.
Eland, which is headquartered in Westill and mainly focussed in Nigeria, started work on the well on November 20, with completion expected at the start of the new year.
An Early Production System will be used on the Gbetiokun-3 and Gbetiokun-1 wells, expected to yield around 15,000 barrels of oil per day in Q1.
Chief executive George Maxwell said: “Gbetiokun has the potential to deliver a 50% increase in oil production from OML 40. We look forward to updating shareholders on the completion of Gbetiokun-3 in January 2019.”
Eland recently hailed 2018 as the “most important financial period” in its history as it jumped to a £26.7m profit, thanks to a production surge from its Opuama field in Nigeria.