Project Profile
Location: OML 42
Area: 814 square kilometre
Current production: 15,000 boepd
Awarded: 1962
Start-up: 1969
OML 42 is an 814 square kilometer lease originally awarded in 1962. Initial production commenced in 1969 and aggregate production from the 5 fields discovered within OML 42 reached a peak of approximately 250,000 barrels of oil equivalent per day (\"boepd\") in the 1970\'s. Production, which was primarily oil, continued until the first part of 2005 when the producing fields were shut-in due to security issues in the Niger Delta area. Production at the time of the shut-in was more than 50,000 barrels of oil per day (\"bopd\") and more than 80 million cubic feet per day (\"MMcf/d\") of natural gas. The sales process for OML 42 started in late 2010 and during the first part of 2011 one of the fields within the license area was put on-stream resulting in current production from OML 42 of approximately 15,000 bopd.
Operators:
Neconde Energy (consortium):
Kulczyk Oil
Shell Petroleum Development Company of Nigeria Ltd.
Total E&P Nigeria Limited
Nigerian Agip Oil Company Limited
Each have: 45% participating interest
Nigerian National Petroleum Company (NNPC): 55% participating interest