Asset Report
OML 123
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Report summary
OML 123 is a shallow water block in the southeast Niger Delta, next to the Cameroon border. It contains 20 small to medium-sized oil fields, eight of which are producing. Infrastructure is extensive and includes four main production platforms, a mobile production unit (MOPU), 14 wellhead platforms, pipelines, and an FPSO (Nuim Antan) for crude oil processing and offloading.Most of the fields on OML 123 are now mature and considerable effort is required to manage their decline. As such, ...
Table of contents
- Key facts
-
Summary and key issues
- Summary
-
Key issues
- Addax exits its Nigerian PSCs and OML 123 reverts to NNPC Limited as concessionaire
- Investment at a standstill, production declining steeply
- Gas potential
- Location maps
-
Participation
- Background to Addax's entry and exit
- Geology
- Well data
- Exploration
- Reserves and resources
- Production
-
Development
- Platforms
- Adanga, Adanga South/Southwest extensions
- Adanga North Horst
- Antan
- Ebughu, Ebughu East/Northeast/South extensions
- Kita Marine
- Oron West & North Oron
- Akam
- Bogi
- Mimbo
- Inagha
- Ukpam
-
Costs
- Exploration costs
- Capital costs
- Operating costs
-
Fiscal and regulatory
- Petroleum Industry Act
-
Pre-2023 fiscal terms
- Royalty
- Petroleum Profits Tax (PPT)
- Cost Oil
- Profit Oil
- Post-2022 fiscal terms
-
Economic assumptions
- Cash flow
- Discount rate and date
- Inflation rate
- Oil price
- Tariff receipts
- GEM file name
-
Economic analysis
-
Cash Flow
- PSC fiscal terms
-
Cash Flow
- Concession fiscal terms
-
Cash Flow
Tables and charts
This report includes 32 images and tables including:
- Key facts: Table 1
- Index Map
- OML 123 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: Table 2
- OML 123 PSC Production Profile
- OML 123 Concession Production Profile
- Development: Table 1
- Costs: Table 1
- Costs: Table 2
- Costs: Table 3
- Fiscal and regulatory: Table 1
- Fiscal and regulatory: Table 2
- Economic analysis: Table 1
- Economic analysis: Table 2
- Economic analysis: Table 3
- Split of Revenues
- Cumulative Net Cash Flow - Undiscounted
- Cumulative Net Cash Flow - Discounted at 10% from 01/01/2024
- Economic analysis: Table 4
- Economic analysis: Table 5
- Economic analysis: Table 6
- Split of Revenues
- Cumulative Net Cash Flow - Undiscounted
- Cumulative Net Cash Flow - Discounted at 10% from 01/01/2024
- Remaining Revenue Distribution (Discounted at 10% from 01/01/2024)
- Remaining PV Price Sensitivities
What's included
This report contains:
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