Nigeria OML 18

OML 18 is located in the Southern Niger Delta and comprises a mangrove swamp area, covering 1,035 km2 (which is an area larger than the country of Bahrain). It is considered a world-class resource of oil, gas and condensate and is located close to the Bonny Terminal operated by Shell and near Port Harcourt (which is located to the south east of the map).

OML-18 

There are nine discovered fields on OML 18, of which four are still producing (including the Awoba field, which straddles OML 18 and OML 24). To date, an estimated 1,002 MMstb of oil (including Alakari condensate) and 1,778 bcf of gas has been produced.

The Awoba field straddles OML 18 and OML 24. OML 24 is an adjacent block, which is operated by Newcross E&P Company Limited, the operator of OML 24. The Awoba field is governed by an interim unitisation arrangement that divides any oil produced at the field between the owners of OML 18 and owners of OML 24 on a 50:50 split.

OML 18 Reserves

OML 18 Gross reserves (01/01/2016)
- 1P 2P 3P
Oil + condensate (mmbbls) 389 576 777
Gas (Bcf) 3,119 4,213 5,080

Under Eroton’s operatorship, the production wells at OML 18 have seen significant increases, rising from approximately 10,000 bopd of oil in March 2015 to approximately 50,000 bopd of oil and approximately 50 MMscfpd of gas in April 2016.

The Operator has proposed a significant oil and gas development drilling programme that will involve capital expenditure of approximately US$1.5 billion in the 2P case over the next five years that is expected to see oil production increase from approximately 50,000 bopd to 115,000 bopd (including production losses and downtime) and sales gas from 50 MMscfpd to 485 MMscfpd by 2020. This includes 50 notional new wells (which may include side track on some existing wells) and 26 gas wells utilising two rigs starting in March 2017 over a five year period to effectively produce the undeveloped reservoirs, un-drained regions of the reservoirs and accelerate the recovery of identified reserves.

Share

  • Share
  • Email
  • Print
  • Twitter
  • linkedIn