Asset Report
OML 58
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Report summary
OML 58 lies in the eastern Niger Delta, 80 kilometres northwest of Port Harcourt. It is the only onshore OML within the NNPCL/TotalEnergies Joint Venture. It currently has only three producing fields: Ubeta, Obagi (the oldest field in the JV and one of the largest in Nigeria) and the Ibewa gas/condensate field. Erema ceased production in 2014. In Q3 2024, Aradel signed a sales and purchase agreement with the JV acquiring Olo and Olo West from OML 58. The deal is yet to be approved by the ...
Table of contents
- Summary
-
Key Issues
- Incremental production plans
- Aradel's acquisition of Olo and Olo West
- Ubeta FID
- JV funding
- Gas supply obligations
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Emissions
- Obagi
- Oil
-
Gas
- Obite-Ubeta-Rumuji (OUR) pipeline
- Northern Option Pipeline (NOPL)
- Capital costs
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Operating costs
- Domestic gas delivery obligation
- Petroleum Industry Act
- Cash Flow
Tables and charts
This report includes the following images and tables:
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Oil Pipeline SummaryCapital Costs Pre-2016 to 2024 (US$ million)Operating Costs 2024 to 2033 (US$ million)
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Annual NLNG Feedstock Gas PricesCash Flow (US$)PV Table (US$)Summary Table (US$)Split of RevenuesCumulative Net Cash Flow - UndiscountedCumulative Net Cash Flow - Discounted at 10% from 01/01/2026Remaining PV Price SensitivitiesIndex Map
- 10 more item(s)...
What's included
This report contains:
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