Three Nigerian oil firms Century Energy Exploration & Production (E&P), Excel E&P and Millenium Oil and Gas are reported to produce their first batch of crude oil.
The three companies have prospected the oil fields, completed development and install facilities required to drill oil, according to Africa Oil and Gas Report.
“Century Energy E&P is on course of putting the Atala Marginal Field on stream; Excel E&P has now formally started to inject about 800 barrels of crude oil per day from Eremor field into the Trans-Forcados system and sources at Millennia Oil and Gas say it has ‘less than’ 60 days to go to complete all the remaining hook up and commissioning facilities for the start-up of the Oza field,” the report further confirmed.
The licenses for the fields operated by these indigenous firms were granted by the Nigerian Government in 2003.
Nigeria is Africa’s largest producer of oil and earns over 85 percent of its revenue from oil exports.