Project Profile
Value: Undisclosed
Location: South eastern offshore Nigeria
Production: 22,893 BOPD (2015-2016, net to NNPC) 35,000 BOPD (gross 2013)
Start-up Year: 2001
Petrofac with Taleveras, has won the strategic alliance partnership of NPDC to fund the operations in the Oil Mining Lease (OML) 119 in Nigeria’s prolific south eastern offshore. State hydrocarbon company NPDC is operator of the acreage, which contains the Okono and Okphoho fields, discovered by the defunct Exploration & Exploitation (E&E) Division of NNPC, the forerunner of NPDC, during its exploration campaigns between 1978 and 1983. With the contract secured, Petrofac takes over from Agip Energy and Natural Resources (AENR), the subsidiary of ENI, which has funded oilfield activity in the acreage since 2000. Although AENR was competitively selected as a strategic alliance partner for the development of the twin fields in August 2000, it is not clear whether the Petrofac/Taleveras award was a result of any competitive bidding. Under the alliance, Petrofac and Taleveras have both agreed to provide financial, technical and “capacity and capability-building support” to NPDC for the further development of the OML 119 Block
AENR signed the agreement in December 2000 and delivered first oil in December 2001. AENR operated the asset from 2000 to 2005, and turned it over to NPDC for operatorship. However, the terms of the agreement with Petrofac/Taleveras precludes operatorship. Their sole purpose is to fund NPDC’s operations in the asset. OML 119 was producing 35,000 BOPD gross as of June 2013, down from as high as 66,000 BOPD in 2007, but the acreage’s possesses upside in the shape of two oil-filled reservoirs situated up to 600 metres below the deepest producing zone.
Operators:
Nigerian Petroleum Development Company (NPDC): Operator
Taleveras Energy Resources
Petrofac