Lekoil receives payment for first shipment from Otakikpo

Africa-focussed oil and gas exploration, development and production company LEKOIL announced on Thursday that it received payment for its first cargo lifted from the Otakikpo Marginal Field in OML 11, announced on 10 May.

The AIM-traded firm said the high quality Otakikpo crude blend led to the company realising a small premium to Brent crude pricing before marketing and related costs over the given period.

“Current production at Otakikpo is approximately 5,500 bopd,” the board confirmed.

“With production gradually ramping up, the company is now looking to establish more frequent regular liftings as it focuses on increasing production through year end.”