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.
Table of contents
- Key facts
-
Summary and key issues
- Summary
- Key issues
- Location maps
- Participation
- Geology
- Well data
- Exploration
- Reserves and resources
- Production
-
Development
- FPSO
- Drilling
-
Costs
- Exploration costs
- Abandonment
- Capital costs
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Fiscal and regulatory
- Signature bonus
- Duration
- Royalty
-
Production bonus
- Cost oil
- Petroleum Profits Tax (PPT)
- Profit oil
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Economic assumptions
- Cash Flow
- Discount rate and date
- Inflation rate
- Oil price
- Global Economic Model (GEM) file
- Economic analysis
Tables and charts
This report includes 24 images and tables including:
- Key facts: Table 1
- Index Map
- OML 120 Map
- 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
- Production Profile
- Cash flow
- Economic analysis: Table 2
- Economic analysis: Table 3
- Split of Revenues
- Cumulative Net Cash Flow - Undiscounted
- Cumulative Net Cash Flow - Discounted at 10% from 01/01/2018
- Remaining PV Price Sensitivities
- Costs: Table 1
- Operating costs
- Fiscal and regulatory: Table 1
- Fiscal and regulatory: Table 2
What's included
This report contains:
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