Asset report
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9 Pages

OMLs 74 & 77


OMLs 74 & 77

Report summary

OMLs 74 and 77 are two large shallow water licences in the eastern part of the Niger Delta and are part of the NNPC/Shell Joint Venture. There are eight undeveloped oil and gas discoveries on the block. Although the operator completed development plans for OML 74 and 77 (also known as H-Block and J-Block respectively), Final Investment Decision (FID) has not been taken. Despite the reserves potential of OMLs 74 and 77, the fields have remained undeveloped. A major barrier has been NNPC's funding constraints, which has severely limited spend on upstream developments, particularly greenfield offshore projects. With Shell shifting focus to deepwater and LNG, greenfield conventional projects like OMLs 74 and 77 are not priority. As a result, we have downgraded the assets to non-commercial. We believe that if a licence renewal is secured, then Shell may opt to divest the blocks.

What's included?

This report includes 2 file(s)

  • OMLs 74 & 77 PDF - 560.52 KB 9 Pages, 5 Tables, 2 Figures
  • OMLs 74 & 77 XLS - 238.50 KB

Description

Lower oil prices and a call for increased returns from shareholders has caused a subtle shift to occur in the upstream oil and gas industry. This shift is increasing investment opportunities and driving capital discipline.

In this Upstream Oil and Gas Field report you'll find information about participation, exploration, geology, reserves, production, infrastructure, cost, economics and much more.

For potential investors, governments and companies in the oil and gas sector, this report provides an understanding of critical issues at the field level. It will help give you a commercial view of the field and recognise potential benefits and risks.

Wood Mackenzie has over 40 years of experience in commercial analysis and field valuations. Our analysts produce forward-looking analyses, backed by our robust proprietary database of trusted research.

Covering more than 105 countries, we are the recognised gold standard in commercial data and analysis.

  • Key facts
  • Summary and key issues
    • Summary
    • Key issues
  • Location maps
  • Participation
  • Geology
  • Well data
  • Exploration
    • OML 74
    • OML 77
  • Reserves and resources
  • Development
    • Original development plan
    • Revised plan
  • Infrastructure
  • Sales contracts
  • Fiscal and regulatory

In this report there are 7 tables or charts, including:

  • Key facts
    • Key facts: Table 1
  • Summary and key issues
  • Location maps
    • Index Map
    • OMLs 74 & 77 Map
  • Participation
    • Participation: Table 1
  • Geology
    • Geology: Table 1
  • Well data
    • Well data: Table 1
  • Exploration
  • Reserves and resources
    • Reserves and resources: Table 1
  • Development
  • Infrastructure
  • Sales contracts
  • Fiscal and regulatory
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