Asset Report
OML 88
This report is currently unavailable
Report summary
OML 88 is a shallow water block located in the central Niger Delta. Seven fields have been discovered on the block but only Pennington and Middleton have been developed. Both have been producing since the 1970s and are now depleted. Although there is significant gas reserves on OML 88, there are no firm plans for monetisation, so they are classed as non-commercial. The OML 88 licence was renewed for a period of 20 years in January 2015 after it expired in 2008. The remaining value of the asset is negative as the oil reserves are depleted. The partners could realise additional value if the significant gas reserves are developed in future. A lack of upstream funding and gas monetisation options have been a major barrier to further development on the block. Because of the licence extension, the block may be a divestment candidate for Chevron which would be of interest to gas-focused investors.
Table of contents
- Key facts
-
Summary and key issues
- Summary
-
Key issues
- Chevron divestment completed
- Large contingent gas resources
- Location maps
- Participation
- Geology
- Well data
- Exploration
- Reserves and resources
-
Production
- Emissions
-
Development
- Gas supply to LNG
-
Infrastructure
- Pennington offshore oil terminal
-
Costs
- Sunk costs
- Abandonment costs
- Capital costs
- Operating costs
-
Fiscal and regulatory
- Petroleum Industry Act
-
Economic assumptions
- Cash Flow
- Discount rate and date
- Inflation rate
- Oil price
- Global Economic Model (GEM) file
- Economic analysis
Tables and charts
This report includes 18 images and tables including:
- Key facts: Table 1
- Index map
- OML 88 map
- Participation: Table 1
- Geology: Table 1
- Well data: Table 1
- Reserves and resources: Table 1
- Reserves and resources: Table 2
- Production: Table 1
- OML 86 production profile
- 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 01/01/2024
- Remaining PV Price Sensitivities
- Costs: Table 1
What's included
This report contains:
Other reports you may be interested in
Asset Report
Saudi Arabia other fields (sub-commercial)
This analysis lists the discoveries in Saudi Arabia that have yet to be developed.
$3,100
Asset Report
Sleipner Condensate Pipeline and Terminal
The Sleipner Condensate Pipeline transports condensate and NGL from the Sleipner Øst platform to the Statpipe.
$2,150
Asset Report
Turkmengaz minor fields
This report provides reserve and production data for commercial fields in Turkmenistan that are not currently modelled in a detailed ...
$3,100