Asset report

OML 120 (Oyo)

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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.

What's included

This report contains

  • Document

    OML 120 (Oyo)

    PDF 4.30 MB

  • Document

    OML 120 (Oyo)

    XLS 745.50 KB

  • Document

    OML 120 (Oyo)

    ZIP 4.94 MB

Table of contents

  • Key facts
  • Summary and key issues
  • Location maps
  • Participation
  • Geology
  • Well data
  • Exploration
  • Reserves and resources
  • Production
  • Development
  • Costs
  • Fiscal and regulatory
  • Economic assumptions
  • Economic analysis

Tables and charts

This report includes 24 images and tables including:

Images

  • Index Map
  • OML 120 Map
  • Production Profile
  • Split of Revenues
  • Cumulative Net Cash Flow - Undiscounted
  • Cumulative Net Cash Flow - Discounted at 10% from 01/01/2018
  • Remaining PV Price Sensitivities

Tables

  • Key facts: Table 1
  • Participation: Table 1
  • Participation: Table 2
  • Geology: Table 1
  • Well data: Table 1
  • Commitments
  • Reserves and resources: Table 1
  • Reserves and resources: Table 2
  • Production: Table 1
  • Production: Table 2
  • Cash flow
  • Economic analysis: Table 2
  • Economic analysis: Table 3
  • Costs: Table 1
  • Operating costs
  • Fiscal and regulatory: Table 1
  • Fiscal and regulatory: Table 2

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