Sahara Group has said that it plans to produce 350,000 barrels of oil per day (bpd) within the next five years. The company recently revealed that the target is part of its plan to expand its upstream capacity.
Speaking during a strategic meeting with investors and stakeholders on the sidelines of the recently concluded Africa Energy Week in Cape Town, South Africa, Leste Aihevba, chief technical officer of Asharami Energy, the upstream subsidiary of Sahara Group, shared that upgrading its exploration and production service offerings would help the organization develop further.
According to him, improved execution capacity, the recent purchase of seven new rigs for quick and more efficient production, will go a long way towards aiding the growth of the company.
He stated that the effort to guarantee a safe and sustainable energy future for Africa cannot be achieved in isolation.
“The journey towards a secure and sustainable energy future for Africa cannot be travelled in silos.
Every refinery upgrade, every gas commercialisation project, every power reform and community wealth accretion initiative must be part of a broader continental blueprint,” he said.
Leste further noted that Sahara Group’s infrastructure drive is already transforming its operations and boosting capacity and competitiveness in Africa’s energy space.
He concluded by saying that the rig acquisition is key to Sahara Group’s target of producing 350,000 bpd of oil and 1 billion standard cubic feet per day (MMscf/d) of gas in Nigeria from now till 2030.
“We have expanded our reserves development and production capacity with the acquisition of seven rigs for both drilling and workover.
This bold and strategic drive also complements our efforts geared towards accelerating the pace from exploration to production, enhancing local content participation, and ensuring Africa efficiently develops the reserves that will power the continent’s growth and energy future.
Two of the seven new rigs are already in the country, with another two expected to arrive before year-end.
Our upstream operations are anchored on a robust shared prosperity approach which recognises our host communities and government as partners, collaborating towards becoming locally competent and globally competitive in bringing energy to life responsibly,” he added.
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