Oil Rehabilitation Project

closed

The project will fund specific investments in oil production operations with the objectives of: retarding the rate of decline of oil production and exports in the near term; strengthening the managerial and technical capabilities as well as the financial viability of selected oil producing enterprises; and mobilizing additional financial resources for the sector through commitments to cofinancing and through the demonstration effect of the project. The following components are included in the project: (a) workover, completion and rehabilitation of 1,300 production oil wells including provision of specialized oilfield technical services; (b) in-fill drilling of 84 new wells in existing fields; (c) replacement of over 1,000 km of oil gathering lines and production flow lines which will reduce oil leakages and thus address an important environmental concern as well as recover oil currently wasted; (d) provision of a topping plant to produce refined products for oil field operations and natural gas liquids extraction units to recover hydrocarbon liquids and reduce flaring, thereby reducing CO2 and particulate emissions; and (e) technical assistance, data processing facilities and training.