Belemaoil OML 55 Begins Operations Three-Years After
Belema Oil Producing, an indigenous oil producer in Nigeria, has recommenced activities at its Oil Mining Lease 55 following a three-year suspension due to facility damage resulting from theft and vandalism.
The company acquired OML 55, situated approximately 40 kilometers west of the Bonny oil export terminal in a transition zone from swamp to shallow water, from Chevron Corp in February 2015.
Operations at OML 55 were suspended in 2021 due to widespread oil theft affecting the delivery line to the Bonny terminal, as stated by a spokesperson for Belemaoil.
The block is reported to encompass five oilfields, collectively producing around 14,000 barrels of oil per day and over 70 million standard cubic feet of gas daily, according to Reuters.
The arrival of the first floating oil storage vessel at OML 55 on October 6 has been described as a significant achievement in the company’s initiative to resume production, as noted by the spokesperson.
As Africa’s leading oil producer, Nigeria is striving to enhance crude output, which has declined in recent years due to extensive theft and sabotage, prompting major oil companies to shift their focus from onshore drilling to deepwater production.