Dangote’s Upstream Venture Hits First Oil, Aiming for 15,000 bpd Soon
Dangote Group has achieved its first oil from its upstream assets and plans marketable crude production in the next few weeks, vice-president Devakumar Edwin told a leading energy news service. Early well testing on OML 71 and 72 in the Niger Delta will wrap up within a month. The joint venture is already producing about 4,500 bpd from the Kalaekule field and expects output to rise to 15,000 bpd by next month, according to CEO Olajumoke Ajayi of West African E&P. Dangote holds 85% of the upstream project, with NNPC and First E&P as partners. The company is also exploring its own shipping operations and may supply this crude directly to its refinery to secure a stable feedstock and lower logistics costs.
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