LEKOIL to ramp up production with start of continuous flow at Otakikpo field, Nigeria

LAGOS, Nigeria -- LEKOIL, the oil and gas exploration and development company with a focus on West Africa, is pleased to announce that oil is flowing at Otakikpo field to onshore storage tanks, where it will be evacuated upon completion of the offshore pipeline. All onshore facilities have been fully commissioned and signed off by the regulators, and the offshore pipeline leading from the storage tanks to the tanker offloading manifold is 80% complete.

Upon completion of the pipeline, the joint venture partners, comprised of Green Energy International Ltd as Operator and LEKOIL as technical partner, expects to start transporting to the export terminal and, subsequently, be able to gradually ramp up production to 10,000 bopd.

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