Exile Resources and its joint venture partners chose the installation of the pipeline instead of the more expensive alternative of installing an offshore production facility.
Exile Resources’ Chief Executive Officer Tony Henshaw said “After evaluating several development plans and scenarios, the joint venture partners determined that a permanent pipeline solution is the most prudent and economic approach in developing Akepo 1 and the rest of the Akepo field.”
The contract for the pipeline has been awarded and construction will begin in December, with first oil targeted for May 2011.
