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Asset Report

OML 124

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07 February 2023

OML 124

Report summary

OML 124 is a small onshore block in the northern Niger Delta. It contains two mature oil fields, Izombe and Ossu, which started production in 1975/76. The Njaba field started production in 2018. Izombe extends into the Seplat-operated OML 53, where it is known as Jisike. Oil from the smaller Njaba and Ossu fields is tied-back to the Izombe flow station. Commingled oil, including volumes from Jisike, are exported to the Eni-operated Brass Terminal via pipeline. Izombe and Ossu are nearing ...

Table of contents

  • Key facts
    • Summary
    • Key issues
      • Addax finally exits its PSCs and OML 124 reverts to NNPC Limited as a concessionaire
      • Insecurity in the delta is impacting production
      • Extremely high emissions intensity
      • Gas monetisation
      • Petroleum Industry Act
  • Location maps
    • Background to Addax's entry and exit
  • Geology
  • Well data
  • Exploration
  • Reserves and resources
  • Production
    • Izombe
    • Ossu
    • Njaba
    • Gas & LPG Project
  • Infrastructure
    • Exploration costs
    • Capital costs
    • Operating costs
    • Royalty
    • Cost Oil
    • Profit Oil
    • Petroleum Profits Tax (PPT)
    • Discount rate and date
    • Inflation rate
    • Oil price
    • Global Economic Model (GEM) file
    • Cash flow
      • PSC fiscal terms
    • Cash flow
      • Concession fiscal terms

Tables and charts

This report includes 32 images and tables including:

  • Key facts: Table 1
  • Index Map
  • OML 124 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 124 Production Profile
  • Production Profile
  • Infrastructure: 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 01/01/2023
  • 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 01/01/2023
  • Remaining Revenue Distribution (Discounted at 10% from 01/01/2023)
  • Remaining PV Price Sensitivities

What's included

This report contains:

  • Document

    OML 124

    PDF 6.44 MB

  • Document

    OML 124

    XLS 530.50 KB