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Asset Report

OML 137

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07 February 2023

OML 137

Report summary

OML 137 is a shallow water block in the southern Niger Delta. There are nine discoveries on the block, two of which (Ofrima North and Udele) are oil fields. Addax approved Ofrima North and Udele for development in 2014, but the development was cancelled due to the oil price crash and ongoing legal disputes. All of the fields are now classed as contingent resources.Addax originally planned a standalone oil development using three wellhead platforms, a central processing facility and a ...

Table of contents

  • Key facts
    • Summary
    • Key issues
      • Addax finally exits its PSCs with OML 137 reverting to NNPC Limited as concessionaire
      • Gas potential
      • Petroleum Industry Act
  • Location maps
    • Background to Addax's entry and exit
  • Geology
  • Well data
    • Commitments
    • Exploration
  • Reserves and resources
    • Phase 1A: Ofrima North
    • Phase 1B: Udele
    • Phase 2: Udele
    • Tie-back to Agbara (OML 116)
    • Royalty
    • Petroleum Profits Tax (PPT)
    • Cost oil
    • Profit oil
    • Post-2022 fiscal terms

Tables and charts

This report includes 10 images and tables including:

  • Key facts: Table 1
  • Index Map
  • OML 137 Map
  • Participation: Table 1
  • Geology: Table 1
  • Well data: Table 1
  • Reserves and resources: Table 1
  • Exploration: Table 1
  • Fiscal and regulatory: Table 1
  • Fiscal and regulatory: Table 2

What's included

This report contains:

  • Document

    OML 137

    PDF 4.50 MB

  • Document

    OML 137

    XLS 225.50 KB