Asset Report
OML 123
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
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Report summary
OML 123 is a shallow water block in the southeast Niger Delta, next to the Cameroon border. It was originally called OPL 98 and awarded to Addax in 1998. The block was converted to OML 123 in 2002. In 2023, operatorship was transferred from Addax to Antan Producing Limited, a subsidiary of NNPC Limited. OML 123 contains 20 small to medium-sized oil fields, ten of which are producing. Infrastructure is extensive and includes four main production platforms, a mobile production unit (MOPU), ...
Table of contents
- Summary
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Key Issues
- Declining reserves
- Gas monetisation
- Background to Addax's entry and exit
- Platforms
- Adanga North Horst
- Ebughu, Ebughu East/Northeast/South extensions
- Oron West & North Oron
- Bogi
- Exploration costs
- Capital costs
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Operating costs
- Royalty
- Petroleum Profits Tax (PPT)
- Cost Oil
- Profit Oil
- Cash flow
- Tariff receipts
- GEM file name
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Cash Flow
- PSC fiscal terms
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Cash Flow
- Concession fiscal terms
Tables and charts
This report includes the following images and tables:
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Capital Costs Pre-2016 to 2024 (US$ million)Operating Costs 2024 to 2033 (US$ million)Index map
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OML 123 mapOML 123 ParticipationField Hydrocarbon CharacteristicsOML 123 recent discovery wellsReserves (2P) at 01/01/2026Contingent Resources (2C) at 01/01/2026Production (2015-2024)OML 123 PSC production profileOML 123 Concession production profile
- 15 more item(s)...
What's included
This report contains:
