An indigenous exploration and production company, Petralon 54 Ltd, assigned as the sole operator of the Dawes-Island Field in Rivers State, and a subsidiary of Petralon Energy Limited, is set to boost Nigeria’s daily crude production by 2,500 barrels.
 
The company commenced drilling of a second well in the Dawes-Island Field this month after the arrival of the OES Teamwork rig on the Dawes Island location from another successful operation.
   
With its expanded activities, Petralon 54 Ltd is consolidating its position as a major player in the Nigerian upstream sector and an operator with enormous capacity to create value for stakeholders. 
   
The Founder & Chief Executive Officer (CEO), Petralon Energy Limited, Ahonsi Unuigbe, said: “Drilling an oil well is an overwhelming task for any organisation because of the logistics, and the investments required, but we are happy that our meticulous planning and efforts are met with good fortunes.
    
“We are emboldened to continue our economic ambassadorial role of creating value for our stakeholders, investors, host communities, indigenous oil servicing companies and regulators. As an entrepreneurial indigenous oil exploration and production company, we are open to new opportunities and ready to advance the socio-economic good of the Nigerian nation.”

In recent times, the Nigerian government has optimised production from the nation’s oil and gas assets through the creation of an enabling environment for existing and prospective investors.
     
The government has also been at the forefront of the ‘Project One Million Barrels per day’ initiative, which aims to increase national output by One Million barrels through a strong collaboration between the operators and the regulators in addressing every bottleneck to production.