Asset Report
OML 126 (Okwori & Nda)
Report summary
OML126 is located 60 kilometres offshore, south of Port Harcourt, in water depths averaging 130 metres. There are four fields on the block but only Okwori and Nda have been developed. Addax brought them onstream in 2005 via subsea wells tied-back to the leased Sendje Berge floating production, storage and offloading (FPSO) vessel. The use of subsea technology in shallow water was very unusual at the time of development, but it allowed for a more economically attractive project. The loose, ...
Table of contents
- Key facts
-
Summary and key issues
- Summary
-
Key issues
- Addax finally exits its PSCs with OML 126 reverting to NNPC Limited as concessionaire
- Limited production in 2022
- Piracy incident in 2020
- Emissions intensity is extremely high
- Petroleum Industry Act
- Location maps
-
Participation
- Background to Addax's entry and exit
- Geology
- Well data
- Exploration
- Reserves and resources
- Production
-
Development
-
FPSO
- Arbitration
- Okwori
- Nda
- Gas potential
-
FPSO
- Infrastructure
-
Costs
- Capital Costs
- Operating costs
-
Fiscal and regulatory
- OML 126 PSC 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
- Global Economic Model (GEM) File
-
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 126 (Okwori Field)
- Participation: Table 1
- Geology: Table 1
- Well data: Table 1
- Exploration: Table 1
- Reserves and resources: Table 1
- Reserves and resources: Table 2
- Production: Table 1
- Production: Table 2
- OML 126 PSC production profile
- OML 126 Concession production profile
- Costs: Table 1
- Costs: Table 2
- Costs: Table 3
- Fiscal and regulatory: Table 1
- Fiscal and regulatory: Table 2
- Development: Table 1
- 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 PV Price Sensitivities
What's included
This report contains:
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