Asset Report

OML 120 (Oyo)

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13 November 2019

OML 120 (Oyo)

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

Tables and charts

This report includes 21 images and tables including:

  • Key facts: Table 1
  • Index Map
  • OML 120 Map
  • 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 01/01/2021
  • Remaining PV Price Sensitivities
  • Participation: Table 1
  • Capital costs
  • Operating costs
  • Fiscal and regulatory: Table 1
  • Fiscal and regulatory: Table 2

What's included

This report contains:

  • Document

    OML 120 (Oyo)

    PDF 4.49 MB

  • Document

    OML 120 (Oyo)

    XLS 405.50 KB