Project Profile
Location: Imo State, approximately 100 km north of Port Harcourt, Nigeria
Production: 4,500 bbl/d (2011)
Area: 74,100 acres (300 km2)
Discovery: 2008
OML 124 is a small onshore block located in the northern Niger Delta. It contains two producing oil fields that were developed in the 1970s: Izombe and Ossu. The Izombe field extends into the Chevron-operated OML 53, where it is known as Jisike. Oil from the smaller Ossu field is tied-back to the Izombe facilities. Co-mingled oil at Izombe (including volumes from the Jisike portion of the field) is exported via pipeline to the Eni-operated Brass Terminal. Addax Petroleum has 100% operating interest in the license. OML124 is Addax Petroleum’s smallest Nigerian licence area when measured by production. The license covers an area of 74,100 acres (300 km2) on the northeast edge of the Niger Delta and contains two producing oil fields, Ossu and Izombe, which are operated as a common production area and one undeveloped field, Njaba, discovered in December 2008. In addition, it contains several identified exploration prospects yet to be drilled and tested, while production averaged 4,500 bbl/d in 2011.
Operators:
Addax Petroleum: Operator with 100% interest