Oil&Gas
Oil Mining Lease (OML) 18 - Alakiri, Cawthorne Channel, Krakama, and Buguma Creek Fields
2018-12-11 09:09  点击:8
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Project Profile


Location: Eastern Niger Delta, Nigeria
Area: 1,035 sq km
Production: 56,000 bpd (April, 2017)
Value: US$2.65 billion

The Shell Petroleum Development Company of Nigeria Limited (SPDC), a subsidiary of Royal Dutch Shell plc (Shell), has completed the assignment of its 30% interest in oil mining lease (OML) 18 and related facilities in the Eastern Niger Delta. Its interests in OML18 were assigned to Eroton Exploration & Production Company Limited. Total cash proceeds for Shell amount to US$737 million. OML18 covers an area of 1,035 square kilometres and includes the Alakiri, Cawthorne Channel, Krakama, and Buguma Creek fields and related facilities. The divested infrastructure includes flow stations together with associated gas infrastructure plus oil and gas pipelines within the OML. The divested fields produced on average around 14,000 barrels of oil equivalent per day (100%) during 2014. Total E&P Nigeria Limited and Nigerian Agip Oil Company Limited have also assigned their interests of 10% and 5% respectively in the lease, ultimately giving Eroton Consortium a 45% interest in OML18. All approvals have been received from the relevant authorities of the Federal Government of Nigeria. SPDC is the operator of a joint venture between the Nigerian National Petroleum Corporation (55%), SPDC (30%), Total E&P Nigeria Limited (10%) and Nigerian Agip Oil Company Limited (5%). Mart Resources, Inc. a member of a consortium (Consortium*) that has acquired a 45% participating interest in Nigerian Oil Mining Lease 18 (\"OML 18\") and all associated assets, wells, pipelines and infrastructure. Mart holds an indirect working interest in OML 18 of approximately 10% through its share ownership of Martwestern Energy Limited that in turn owns 50% of the shares of Eroton. Eroton is a partnership between Mart and its Nigerian partner, Midwest Oil and Gas.

In 2016 A binding arrangement agreement was signed between the San Leon Energy and Midwestern Oil and Gas to acquire Mart Resources. The acquisition and restructuring resulted in San Leon securing a 9.72% indirect economic interest in the OML 18 block. (August, 2016)


Operators:


Nigerian National Petroleum Corporation: Operator with 55% interest

Eroton Exploration & Production Company Limited: 45% interest


Consortium*:
Martwestern Energy Limited: 50% interest in Eroton (San Leon Energy holds a 9.72% interest through its ownership of Mart Resources and Mart Resources has a 0.28% share due to its ownership of Martwestern Energy)
Midwest Oil and Gas: 50% interest in Eroton
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