London, 5 November 2018

Baobab producing 100 million barrels of oil

Production from Baobab passed 100 million barrels of oil on 5 November, 2018.

This still only represents around 10 per cent of the oil in place, so expectations are high for many prosperous years to come. The new operation and maintenance contracts entered into in 2017 have also contributed to an improved and stable operational environment which further

"Having produced the first hundred million barrels from the field, Baobab will undergo further development and new draining philosophies and technologies will be applied to exploit this resource to its maximum extent. The target being 40 per cent recovery in place", says Jan Hagen EVP Production and Development.

Svenska joined the CI-40 licence covering the Baobab field in 1998. The first well was drilled in 2001 and oil production started in August 2005.