Asset Report

OML 70

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28 May 2020

OML 70

Report summary

OML 70 is one of the four shallow water blocks which form the Joint Venture (JV) between NNPC and Mobil Producing Nigeria (MPN), a wholly-owned subsidiary of ExxonMobil. The first commercial discovery, Usari, was made in 1964. Since then, 24 fields have been discovered on the block, although only 11 have been developed. Production began in 1970 from the Asabo field. Volumes were stored in an offshore tanker until 1971, when the onshore Qua Iboe oil terminal was completed. The terminal ...

Table of contents

  • Key facts
    • Summary
    • Key issues
      • 2020 oil price crash
      • Production platforms restoration
      • Divestment is an increasingly attractive option
      • Domestic gas monetisation derailed
  • Location maps
  • Participation
    • Usari
  • Well data
  • Exploration
  • Reserves and resources
  • Production
    • Production platforms restoration
    • Domestic gas supply
    • Oso condensate
    • NGL recovery
    • Abang and Oyot Satellite fields development phase 1
    • East Area Additional Oil Recovery
    • Field descriptions
      • Usari
      • Ekpe
      • Asabo, Asabo D & Adua
      • Enang & Enang West
  • Infrastructure
    • Capital costs
    • Operating costs
  • Fiscal and regulatory
    • Cash Flow
    • Discount rate and date
    • Inflation rate
    • Oil price
    • Global Economic Model (GEM)
  • Economic analysis

Tables and charts

This report includes 24 images and tables including:

  • Key facts: Table 1
  • Index Map
  • OML 70 Detail Map
  • Participation: Table 1
  • Participation: Table 2
  • Geology: Table 1
  • Well data: Table 1
  • Reserves and resources: Table 1
  • Reserves and resources: Table 2
  • Production: Table 1
  • Production: Table 2
  • OML 70 production
  • Infrastructure: Table 1
  • Cash flow
  • Economic analysis: Table 2
  • Economic analysis: Table 3
  • Split of Revenues
  • Cumulative Net Cash Flow - Undiscounted
  • Cumulative Net Cash Flow - Discounted at 10% from 01/01/2021
  • Remaining Revenue Distribution (Discounted at 10% from 01/01/2021)
  • Remaining PV Price Sensitivities
  • Costs: Table 1
  • Costs: Table 2
  • Costs: Table 3

What's included

This report contains:

  • Document

    OML 70

    PDF 5.19 MB

  • Document

    OML 70

    XLS 424.00 KB