Project Profile
Location: Shallow water offshore of the western Niger Delta Basin, Nigeria
Area: 340 km2
Exploration start-up: 1974
In June 2008, Addax Petroleum Corporation was awarded a 40% interest in OPL227, offshore Nigeria. Addax Petroleum’s co-participants in the OPL 227 licence area are Express Petroleum & Gas Company Ltd (Express), Petroleum Prospects International Ltd (PPI) and Niger Delta Petroleum Resources (NDPR), which are all indigenous Nigerian oil companies and each one holds a 20% interest. The OPL 227 licence area is located in the shallow water offshore of the western Niger Delta Basin. The license covers approximately 340 km2 and is adjacent to and to the northeast of the Shell-operated OML 79 licence area. There are four wells drilled between 1974 and 1988, all of which encountered hydrocarbons (in non-commercial quantities or shows). Express is the operator and Addax Petroleum will conduct technical operations in its capacity as technical advisor, while planning to drill 3 exploration wells.
Operators:
Express Petroleum & Gas Company Ltd (Express): Operator with 20% interest
Addax Petroleum: 40% interest
Petroleum Prospects International Ltd (PPI): 20% interest
Niger Delta Petroleum Resources (NDPR): 20% interest