Asset Report
OML 120 (Oyo)
This report is currently unavailable
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
- OML 120 re-awarded to General Hydrocarbons Limited (GHL), and rig secured
- FPSO still on location
- Location maps
-
Participation
- Historical participation
- Geology
- Well data
- Exploration
- Reserves and resources
- Production
-
Development
- FPSO
- Drilling
-
Costs
- Exploration costs
-
Fiscal and regulatory
- Signature bonus
- Duration
-
Production bonus
- Cost oil
- Petroleum Profits Tax (PPT)
- Profit oil
-
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 21 images and tables including:
- 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 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 01/01/2023
- Remaining PV Price Sensitivities
- Participation: Table 2
- Capital costs
- Operating costs
- Fiscal and regulatory: Table 1
What's included
This report contains:
Other reports you may be interested in
Asset Report
Bleo Holm Area
The Bleo Holm Area includes the Blake, Ross and Tain fields. They lie in the Central North Sea, Moray Firth Basin, approximately 120 ...
$3,100
Asset Report
Greenstream Pipeline
The Greenstream pipeline transports gas across the Mediterranean Sea from Mellitah, Libya to Gela in Sicily, Italy. Gas is supplied ...
$2,150
Asset Report
Christina Lake
The Christina Lake project is located in the Athabasca region of Alberta, 120 kilometres to the south of Fort McMurray. Christina ...
$3,100
