Asset Report
OMLs 74 & 77
Limited time offer - buy 3 x OML reports and save 20%. Enter code "OMLbundle" at cart.
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.
Table of contents
- Key facts
-
Summary and key issues
- Summary
-
Key issues
- 2020 oil price crash
- Location maps
- Participation
- Geology
- Well data
- Exploration
- Reserves and resources
- Production
-
Development
- Original plans
-
Costs
- Sunk Costs
- Capital costs
- Operating costs
- Sales contracts
- Fiscal and regulatory
-
Economic assumptions
- Cash flow
- Global Economic Model (GEM)
- Economic analysis
Tables and charts
This report includes 22 images and tables including:
- Key facts: Table 1
- Index Map
- OMLs 74 & 77 Map
- Participation: Table 1
- Geology: Table 1
- Well data: Table 1
- Reserves and resources: Table 1
- Reserves and resources: Table 2
- Production: Table 1
- Production: Table 2
- Production Profile
- Sales contracts: 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 PV Price Sensitivities
- Costs: Table 1
- Costs: Table 2
- Costs: Table 3
What's included
This report contains:
Other reports you may be interested in
13 February 2018
Nigeria 2019 licence renewals: 18 billion boe at stake
Insight
Nigeria 2019 licence renewals: 18 billion boe at stake
Holders of 30 oil mining leases are entitled to a renewal, but how much will it cost?
$1,35014 November 2016
Valuing ExxonMobil's Owowo discovery in deepwater Nigeria
Insight
Valuing ExxonMobil's Owowo discovery in deepwater Nigeria
A potential 1 billion barrel find is a much-needed boost for Nigeria, but will it add value with tough fiscal terms and high costs?
$1,30005 February 2020
Owowo
Asset Report
Owowo
Discovered in 2012 by Total, Owowo West is located in 650 metres of water, 25 kilometres east of Usan. ExxonMobil drilled Owowo-3 in ...
$3,100
