Over 30m barrels of crude oil rescued from abandoned wells – Kenyon CEO

Over 30million barrels of crude oil production per day have been rescued from dead and abandoned oil wells in Nigeria by an indigenous firm.

According to the Managing Director, Kenyon International, Dr. Victor Epekyong, the figure represented the oil production from dead and abandoned oil wells rescued through his company’s engineering innovation.

“If we keep counting the wells that we have lost, the wells we have abandoned, the well that nobody would have talked about in Nigeria, that our ingenuity has rescued; the last time we did the calculation, the production of those wells was over 30 millions barrels of oil. These are the wells we have rescued and keep on producing,” he said.

Speaking during the Kenyon International’s 10th Anniversary Celebration in Lagos which was well attended by dignitaries, the managing director said that he was happy because the company is thriving and providing services and solutions to oil and gas companies in Nigeria.

These achievements, Epekyong said have called for celebration as Nigeria is advancing from an oil downside, moving upward and producing over 1.5million barrels of crude oil per day in a stable manner.

“So Kenyon International is one of the companies that has also contributed to oil production in Nigeria. So we are glad today that Nigeria is stable in terms of the exchange rate,” he said, explaining that there has been surge in terms of oil production.

He emphasised that Nigeria’s current constant oil output  has stabilized forex.

On global call for energy transition, the kenyon International boss urged Nigeria to maximize the use of its abundant hydrocarbons to industrialise and develop.

He said there’s a need for Nigerians to come together, develop technology on how to extract, process and consume their own God-given resources.

Justifying the need for Nigerian government to maximize the use of hydrocarbons to industrialise the nation, he said: “Sometimes ago, they asked us to abandon our coal. We abandoned the coal and embraced hydrocarbon. And the country that had technology on how to extract and process coal, countries like India and China are still using their coal.

“United States, India, China are generating electricity through coal, through nuclear power. But we have it in this country and we were forced to abandon it. We abandon our coal and we jump into the new shift.”

“Now that we have developed technology, developed capacity, developed everything in oil and gas sector,  nobody should push us to abandon our God-given natural resources to pursue what we do not have control over. So what we need to do as a country right now is for us to maximise, try as much as possible to make use of our hydrocarbon to industrialise, hydrocarbon to develop.

“When we make use of our hydrocarbon to develop and industrialise, tomorrow we can now think about transition. What are we transitioning to at the moment where we have huge abandonment of hydrocarbon, gas, oil everywhere in this country? So we as Nigerians, we need to come together, develop technology how to extract, process and consume our own God-given resources,” Epekyong said.

Making projection into the future, he said the said the company is going to work with other stakeholders to bring innovation into Nigerian oil and gas industry.

“In the next 10 years, we will see how to innovate, to see how to bring in pipelines that will be flexible, that can be quick to connect from the warehouse to the flow stations, instead of spending a lot of time to bring this oil back.

“In the next 10 years, we will see what we can also do to boost Nigerian production for where it is today to over 3 million barrels of oil per day, because we see refineries are springing up and we want to enjoy the complete value chain,” Epekyong said.

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