Nigerian independent Eroton E&P and AIM-listed partner San Leon Energy have landed a 20-year renewal for OML 18, a development licence that is partially located in the mangrove swamps of the southern Niger Delta.
The partners plans to pursue a $1.5 billion capital expenditure programme, during which 50 wells will be drilled with the intention of boosting oil and condensate production from 50,000 barrels per day to 115,000 bpd and expanding gas output from 50 million cubic feet per day to 485 MMcfd over the next few years.
