LONDON (Alliance News) - Leni Gas & Oil PLC Friday said it has made its first sale from its newly commissioned sales tank at the Goudron field in Trinidad, of 1,886 barrels of crude oil.
Previously, the company's maximum daily sales were limited to around 750 barrels due to the sales infrastructure, but new infrastructure will be capable of handling oil sales through the remainder of 2014 and to mid-2015. Leni said it expects production to continue to rise from its ongoing drilling programme and from the installation of a Lease Automatic Custody Transfer, which will be capable of handling further oil sales, it said in a statement.
The main objective of Lease Automatic Custody Transfer unit is to transfer the produced oil to the pipeline, automating the process.
"A further milestone in field operations was reached yesterday with the first oil sale from the newly commissioned 2,000 barrel facilities. Production from the field can now be raised without any further immediate constrains imposed by the sales infrastructure," the company said.
Leni shares were down 1.2% to 5.18 pence per share Friday morning.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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