Aradel Holdings Plc Achieves Historic Milestone with First Oil from Omerelu Field

In a significant breakthrough, Aradel Holdings Plc has successfully re-entered Well 2ST in the Omerelu Field, achieving First Oil on May 31, 2024. This milestone marks a major achievement in the company’s operations, boosting production capabilities and contributing to its growth and sustainability goals.

The well re-entry was part of Aradel’s 2024 Exploration and Appraisal Drilling Campaign, utilizing cutting-edge technology and innovative methodologies while maintaining the highest safety standards and environmental stewardship.

According to Adegbite Falade, CEO/MD of Aradel Holdings Plc, “This achievement reinforces our commitment to delivering sustainable energy solutions that support economic growth. We appreciate the unwavering support of our stakeholders, including vendors, local communities, regulatory agencies, and dedicated employees, who played a crucial role in overcoming the challenges associated with this project.”

The attainment of First Oil from Omerelu Field marks a significant step towards converting the field’s Petroleum Prospecting Licence (PPL) to a Petroleum Mining Lease (PML), following regulatory procedures. This development will further enhance Aradel Holdings Plc’s reserves profile and overall production levels, solidifying its position in the energy sector.”