Lekoil is ramping up to hit its production target of 10,000 barrels of oil a day.
The operator is hoping to hit the figure by year end.
The production will come from Lekoil’s Otakikpo facility in west Africa. Lekoil has four production strings ready for production.
A company spokesperson said: “Onshore facilities are complete while welding and installation work continues to progress on the offshore pipeline.
“The company expects commercial production to begin at Otakikpo in the next few weeks. The company is targeting production of 10,000 bopd by year-end 2016 and will then proceed to phase two of the Otakikpo Field Development Plan, bringing aggregate production to a target of 20,000 bopd by the end of 2017, subject to requisite approvals.”
The company has upped its borrowing to complete the facility.
Lekoil currently has a $24.8million two-tranche facility with FBN and a $16.4million loan facility with Sterling Bank.