Universal Energy Commences Production at Stub Creek
Universal Energy in which gas producers, Seven Energy has a 62.5 per cent equity interest, has commenced production from the marginal field, Stubb Creek Field in Akwa Ibom State at an initial gross rate of 2,000 barrels per day (bpd).
Approval has been secured for delivery through Exxon Mobil’s Qua Iboe Terminal, allowing the field, which came on-stream early in February to begin production.
The Early Production Facility in Unyenge, Mbo Local Government Area and the 23 kilometre pipeline for the evacuation of oil have been completed. Universal expects to quickly ramp production up to 8,000 bpd from the initial rate once the processing capacity of the Early Production Facility is upgraded to handle that capacity.
The marginal field is an oil asset with considerable undeveloped non-associated gas reserves, making it of much interest to gas producer, Seven Energy.
The company plans to develop the field’s gas resources in the future and to drill a non-associated gas appraisal well.