Asset Report
OML 70
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Report summary
OML 70 was one of the four shallow-water leases in the Joint Venture (JV) between NNPCL and Mobil Producing Nigeria Unlimited (MPNU), a wholly-owned subsidiary of ExxonMobil. In 2024, Seplat Energy acquired the entire share capital of MPNU for US$800 million. MPNU owned 40% equity of, and operated OMLs 67, 68, 70, 104 and the Qua Iboe oil export terminal. MPNU also had a 51% interest in the Bonny River NGL Recovery project. The first commercial discovery, Usari, was made in 1964. Since ...
Table of contents
- Summary
-
Key Issues
- Production platforms restoration will require investment
- Gas monetisation
- Emissions
- Revamp programme
- East Area Additional Oil Recovery
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Satellite Fields Development
- Phase 1
- Phase 2
- Usari
- Ekpe
- Asabo, Asabo D & Adua
- Qua Iboe loading terminal (QIT)
- Capital costs
- Operating costs
- Petroleum Industry Act
- Cash Flow
- Global Economic Model (GEM)
- Cash Flow
- Indicative Technical Valuations
Tables and charts
This report includes the following images and tables:
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Cash Flow (US$)PV Table (US$)Summary Table (US$)
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Split of RevenuesCumulative Net Cash Flow - UndiscountedCumulative Net Cash Flow - Discounted at 10% from 01/01/2026Remaining PV Price SensitivitiesOML 70 Technical FieldsIndex mapOML 70 mapOML 70 participationReservoir and hydrocarbon characteristics
- 8 more item(s)...
What's included
This report contains:
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