Waltersmith Petroman Oil Limited, operator of Ibigwe field located in oil mining lease (OML) 16, has set production targets of 100,000 barrels of oil per day (bpd) and 500 million standard cubic feet per day (mmscf/d) of gas by 2026.
According to the company, the long-term strategy is anchored on delivering these targets by 2026, achieving 100,000 bpd crude oil and condensate production, processing 50 million bpd of crude oil and condensate refinery, processing 500 mmscf/d of gas primarily as fuel for power and installing and supplying 1000 megawatts (Mw) of electricity, including renewables.
Last October, Waltersmith performed the ground-breaking ceremony of its 5,000 barrels of crude oil per day modular refinery and has already started work on the development of an additional 25,000 bpd.
The strategies were unveiled during its Health, Safety and Environment (HSE) Week in Imo State.
The week had as theme: “Safety- my responsibility.”
Waltersmith reiterated its commitment to the safety of its workers, host communities and their environment as it hopes to achieve its target of “goal zero” incident in years.
With a safety regime to bring the risk of any accident associated with oil and gas operations down to the absolute minimum and/or prevent major incidents that could result in multiple fatalities or injuries, or loss of infrastructure critical to the economy, Waltersmith said the week-long event was to further emphasise the need to remind all staff/support staff and contractors to take safety as personal responsibility.
“As a company, we are committed to full implementation of our safety policies. We will support all staff/support staff and contractors in taking time to work safely. We will address every safety concern promptly, Waltersmith Petroman Chairman/Chief Executive Officer (CEO), Abdulrazaq Isa said.
“If you stop a job for safety reasons, we will back you up. If there is an incidence, we will fully investigate and share the lessons learnt to prevent re–occurrence. We will recognise any staff that reports the highest number of near misses,” Isa added.
