Asset Report
OML 120 (Oyo)
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Deepwater block OML 120 lies in the western Niger Delta 70 kilometres offshore. Statoil discovered the Oyo oil field in 1996, but it was considered uncommercial at the time. The field was eventually developed by Eni with two subsea production wells tied-back to a leased FPSO (floating production, storage and offloading) vessel. First production was achieved in December 2009. Oyo has not performed according to expectations. After coming onstream at 22,000 b/d, production fell very rapidly due to gas breakthrough in the Oyo-5 well. Within 12 months, oil production had dropped to 6,000 b/d and over 70 mmcfd of gas was being produced. Reserves were slashed from initial estimates of 50 million barrels.
Table of contents
- Key facts
-
Summary and key issues
- Summary
-
Key issues
- Production restarted in July 2023
- OML 120 uses Tamara Tokoni FPSO for production
- Location maps
- Participation
- Geology
- Well data
- Exploration
- Reserves and resources
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Production
- Emissions
-
Development
- FPSO
- Drilling
- Field Redevelopment
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Costs
- Exploration costs
- Operating costs
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Fiscal and regulatory
- Signature bonus
- Duration
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Production bonus
- Cost oil
- Petroleum Profits Tax (PPT)
- Profit oil
- Petroleum Industry Act (PIA)
- 2 more item(s)...
Tables and charts
This report includes the following images and tables:
- Key facts: Table 1
- Index Map
- OML 120 Map
- Participation: Table 1
- Geology: Table 1
- Well data: Table 1
- Reserves and resources: Table 1
- Reserves and resources: Table 2
- Production: Table 1
- Production: Table 2
- Production Profile
- Cash flow
- 10 more item(s)...
What's included
This report contains:
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