OPL 245 (Zabazaba & Etan) Report

Asset Report 28 May 2025

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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Report summary

Oil Prospecting Licence (OPL) 245 is located in the deepwater area of the southern Niger Delta. Two large oil and gas discoveries, Etan and Zabazaba, were made in 2005 and 2006. The block is estimated to contain over 1 billion boe of discovered and prospective resources.Eni planned to develop oil from OPL 245 in phases with subsea wells tied back to a leased floating, production, storage and offloading (FPSO) vessel. The company aimed to monetise gas via a new pipeline linking into the ...

Key facts
Summary and key issues
- Summary
- Key issues
  - Licence expiry amidst multiple legal disputes
  - International arbitration over licence conversion
  - Petroleum Industry Act (PIA)
  - Challenging tieback development
Location maps
Participation
Geology
Well data
Exploration
Reserves and resources
Development
Fiscal and regulatory
- Petroleum Profits Tax (PPT)
- Ring fence
- Profit Oil
- Duration

Tables and charts

This report includes the following images and tables:

Key facts: Table 1
Index map
OPL 245 map

Participation: Table 1
Well data: Table 1
Reserves and resources: Table 1
Fiscal and regulatory: Table 1

What's included

This report contains:

OPL 245 (Zabazaba & Etan)

PDF 4.38 MB

Why buy this report?

For years the development of exploration block 245 was suspended due to an international dispute between Shell, Malabu and the Nigerian Federal government.

Now resolved, the block continues to be the subject of a corruption investigation. While it holds significant oil reserves and gas volumes, uncertainty over the timing and outcome of ongoing probes is increasing.

Our report provides an assessment of the economics of the block and will help you to:

• Understand the risk to development presented by ongoing corruption investigations
• Analyse hydrocarbon characteristics and field geology and recoverable reserves
• Identify exploration and value potential

Our report provides a comprehensive assessment of the economic and development prospects of the OPL 245 project at the southern end of the Niger Delta. It includes:

Estimates of recoverable reserves
Development assumptions and expected project costs
Detailed location maps

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