Belemaoil Producing, a Nigerian independent oil producer, has successfully resumed operations at its Oil Mining Lease (OML) 55 after a three-year suspension caused by damage from theft.
In February 2015, Belemaoil acquired OML 55 from Chevron Corp. The lease is located about 40 km west of the Bonny oil export terminal, in a swampy to shallow water region.
Operations were halted in 2021 due to extensive oil theft along the delivery line to the Bonny terminal. OML 55 consists of five oilfields that produce approximately 14,000 barrels of oil and over 70 million standard cubic feet of gas per day.
On October 6, the arrival of the first floating oil storage vessel at OML 55 was described by the company as “a major milestone” in the effort to restart production.
Nigeria, Africa’s largest oil producer, is striving to boost its crude output after significant declines caused by widespread theft and sabotage. This has led major oil companies to shift from onshore drilling to deepwater operations.
