Report summaryOPL 322 is located in the far western deepwater region of the Niger Delta Basin. The block contains the Bobo field, which at 2,479 metres is the second deepest-water discovery in Nigeria. Shell discovered Bobo in 2005, but given its size and remoteness there are no near-term plans to develop it. The block will expire in 2017. The integrity of the hydrocarbon trap and seal is a major risk in this region. Bobo has reserves of around 250 mmboe, and at this water depth is non-commercial. We believe that a minimum of 500 million barrels of oil would be needed for a commercial development. Although the block is under-explored, its frontier location and the inability of the NNPC and Dajo Oil to fund their share of costs means that further drilling is unlikely before licence expiry in 2017.
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- OPL 322 (Bobo) PDF - 441.01 KB 6 Pages, 5 Tables, 2 Figures
- OPL 322 (Bobo) XLS - 230.50 KB