LEKOIL (AIM: LEK), the oil and gas exploration, development and production company with a focus on Africa, is pleased to announce that it has received payment for its first cargo lifted from the Otakikpo Marginal Field in OML 11, announced on 10 May 2017.
The high quality Otakikpo crude blend led to the Company realizing a small premium to Brent Crude pricing before marketing and related costs over the given period.
Current production at Otakikpo is approximately 5,500 bopd. With production gradually ramping up, the Company is now looking to establish more frequent regular liftings as it focuses on increasing production through year end.
Source: Press Release