Asset report

OML 119 (Okono and Okpoho)

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Report summary

OML 119 is located in the southeastern Niger Delta, approximately 50 kilometres offshore. The two producing fields on the block, Okpoho and Okono, were discovered by the Nigerian Petroleum Development Company (NPDC) in 1978 and 1983 respectively. Despite encouraging well results, the fields' development did not start until 2001, when Agip Energy and Natural Resources (AENR) signed a modified service contract with NPDC. The project, located in shallow water, utilises an FPSO which is more commonly deployed in deep water. The Okono field produces oil from subsea wells tied-back to the Mystras FPSO located at the field. Oil from Okpoho is produced via a platform linked to the FPSO by pipeline. Oil is exported from the FPSO by shuttle tanker. During 2008, the partners purchased the FPSO Mystras, and there are plans to upgrade its capacity. Wood Mackenzie understands significant reserves upside still exists on the Okono and Okpoho fields.

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    OML 119 (Okono and Okpoho)

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    OML 119 (Okono and Okpoho)

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Table of contents

Tables and charts

This report includes 25 images and tables including:

Images

  • Index Map
  • OML 119 (Okono and Okpoho) Map
  • Production Profile (Okono/Okpoho Fields)
  • Split of Revenues
  • Cumulative Net Cash Flow - Undiscounted
  • Cumulative Net Cash Flow - Discounted at 10% from 01/01/2018
  • Remaining Revenue Distribution (Discounted at 10% from 01/01/2018)
  • Remaining Present Value Price Sensitivities

Tables

  • Key facts: Table 1
  • Participation: Table 1
  • Geology: Table 1
  • Geology: Table 2
  • Well data: Table 1
  • Reserves and resources: Table 1
  • Reserves and resources: Table 2
  • Production: Table 1
  • Production: Table 2
  • Infrastructure: Table 1
  • Cash Flow
  • Economic analysis: Table 2
  • Economic analysis: Table 3
  • Development: Table 1
  • Costs: Table 1
  • Costs: Table 2
  • Costs: Table 3

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