ADM Energy has entered into a non-binding collaborating agreement (CA) with Nigerian-owned oil and gas production solutions company, Eunisell, to explore collaboration opportunities for the development of the Barracuda field in OML 141 and associated work-related activity in Nigeria.
Per the CA, subject to the completion of certain due diligence, both companies, together with the risk-sharing consortium in respect to the Barracuda field, will enter into a formal agreement in advance of any work commencing, and the CA may be terminated by mutual consent.
Activities under the intended scope of work may include early production facility supply, procurement, construction and commissioning of production facilities, extended well testing and laboratory services.
Eunisell may also consider providing vendor financing to achieve the scope of work to be agreed, subject to terms and conditions to be determined at the point of an award of contract.
The CEO of ADM, Osamede Okhomina, said: “The collaboration agreement with Eunisell, one of Nigeria’s leading providers of oil field services and facilities, paves the way to bringing another high-class partner into the ADM fold. With a customer base in the region featuring oil and gas majors, Eunisell has been a key facilitator for the Nigerian oil and gas marketplace for many years, helping operators to reach their production goals faster and at less capital costs. We look forward to building a relationship and are excited by the potential of working alongside them to support the development of our investments such as the Barracuda Field in OML 141.”
ADM Energy recently completed 15th Lifting from Aje Field offshore Nigeria
ABOUT EUNISELL
Eunisell has decades of experience in engineering, production, operations and enhanced production techniques within Nigeria. The Parties intend to work together to use their combined experience to accelerate production of oil and gas assets, initially concentrating initiating production at the Barracuda field in which ADM recently invested.
