Project Profile
Location: OML 26, onshore Nigeria
Resources (2C): 5 mmbbls oil, 5 mmbbls of condensates and 8.4bcm of gas (~61 mmboe)
Ovo field is located in OML 26 onshore Nigeria. Ovo was discovered with the Ovo-1 exploration well. Both oil and gas were proved in stacked reservoir intervals. The field was subsequently appraised with two further wells (Ovo-2 and Ovo-3). A total of 34 m of oil and 52 m of gas was encountered, including 7 m of undifferentiated hydrocarbon, none of the wells were production tested. The structure is a northwest to southeast trending anticline. Estimated gross 2C resources are 5 mmbbls oil, 5 mmbbls of condensates and 296 bcf (8.4bcm) of gas, approximately 61 mmboe. An appraisal programme is being defined to better understand hydrocarbon type and distribution in the field, with the objective of working up a suitable field development program. With existing production processing and export infrastructure on the block the opportunity exists to rapidly and cost effectively monetise any future incremental development projects or discoveries.
Operators:
NNPC: Operator with 55% interest
Afren Plc (First Hydrocarbon Nigeria Limited (FHN)): 45% interest