MANILA – Petroenergy Resources Corp. expects robust revenues this year as oil barrel production of the consortium operating the Etame offshore field in Gabon, Africa went up to 19,000 barrels per day from 18,000 barrels per day.
He said the consortium, which is led by Vaalco Energy Inc., targets to further increase oil production to 25,000 barrels per day.
The consortium has installed two new platforms — which costs USD 525 million, including the drilling in Southeast Etame and Central Etame to reach the new barrel target. pna
Disclaimer
Mindanao Gold Star Daily holds the copyrights of all articles and photos in perpetuity. Any unauthorized reproduction in any platform, electronic and hardcopy, shall be liable for copyright infringement under the Intellectual Property Rights Law of the Philippines.
