30
Sep
The upstream petroleum sector is gearing up to bring on-stream its fourth oil field, the Pecan Oil Field, with peak production expected to reach up to 80,000 barrels of oil per day, according to the Chief Executive of Petroleum Commission, Egbert Faibille. Although Mr. Faibille did not give a timeline, he stated that appraisal work is nearing completion, which will pave the way for development and production. The field is considered a vital addition to counterbalance declining crude oil production, which has decreased for the fourth consecutive year. The Public Interest and Accountability Committee (PIAC), in its 2023 annual report,…