Project Profile
Value: US$1.6 billion (Oando stake) US$7.6 billion gross
Location: central part of the offshore Niger Delta, Nigeria
2C contingent resources (2015): 169.8 million BOE (best and gross estimate)
Area: 1,293 square km
Water Depths - 1,000 - 1,500 metres
Start-up Year: 2025 (projected)
OML 145 is a large deepwater offshore license in the prolific central part of the offshore Niger Delta.
It holds four oil and gas discoveries including the Uge field, discovered in 2005. Two of those deposits have been launched as single-well fields, Nza and Orsa, with Uge and Uge North remaining undeveloped. There are also six prospects: Ogazi Lead C, Uge Deep, Nza Deep, Ichokwu, Uge Fault Block B and Torotoro. The chance of success (COS) for Ogazi Lead C, Uge Fault Block B, and Torotoro are 12%, 66%, and 6% respectively. As of 2015, the consortium planned to reprocess 3D seismic data during 2016/2017 to help identify new leads and prospects at greater depths.
Development plans for Uge field included an FPS0 with nine producer wells and nine injectors. Launch has been delayed beyond 2018 and is now expected in 2025. The project has a 59% chance of development, with OER’s share of capital expenditures estimated at US$1.6 billion.
Operators:
ExxonMobil: Operator with 21.05% interest
Oando Energy Resources Inc.: 21.05% interest
Chevron: 21.05% interest
Svenska Petroleum Exploration AB (Svenska): 21.06% interest
Nigerian Petroleum Development Company: 15.79% interest
Contractors:
Petroleum and Renewable Energy Company Limited (Petrenel): Independent Reserves Evaluator