By Oluwagbenga Bankole
In the midst of the current global oil depression, marginal field
operators in the country have been charged to embrace more collaboration,
prudence and operational efficiency.
Speaking exclusively with TOTALNEWS247, the Managing Director of
Energia Limited, a joint venture operator of the Ebendo and Obodeti marginal
field, Mr. Felix Amieye-Ofori said that the way forward for marginal field
operators in this present situation is for them to renegotiate all existing
contracts with service providers and also discuss with banks for better payment
terms on existing loans.”
Amieye-Ofori also said that marginal field operators need to
pay closer attention to HSE and Community Relations as both or either of them
can trigger unplanned expenditures.
He added that as marginal
fields, government must also begin to look at some incentives for the operators
if they are to stay afloat.
Speaking
on the effect oil depression on marginal filed operators, Amieye-Ofori said; “dealing
with sub $30/bbl crude price is quiet challenging because their revenue has
collapsed from $110/bbl to $28/bbl.”
He
also said that service cost hasn't changed that much, neither has ones bank
loan changed, adding that the only way for them is to cut back on operation and
they only carry out maintenance activities just to keep afloat.
He however said that this is
the time to have more volume to compensate for falling crude oil prices, saying
that though they have stopped new drilling, but they are embarking on work over
operations to bring in more crude.
Also speaking with our
correspondent, the Managing Director of Platform Petroleum, Mr. Owieadolor Osariemen
said that Government must begin to look at the fiscal terms with which most of
the marginal field operators are operating, adding that the fiscal terms are no
longer realistic.
“The present situation
requires collaboration from everybody. The government, the Banks, service
providers etc. It requires all industry stakeholders’ collaboration,” he said.
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