Nigeria Licence Areas
Offshore licence areas
OML123: OML123 is Addax Petroleum’s largest licence area as measured by reserves and production and is located offshore approximately 60 km south of the town of Calabar in the south-eastern part of Nigeria, in the Gulf of Guinea.
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OML126/OML137: OML126 and OML137 are two contiguous blocks located 90 km offshore south of Port Harcourt in water depths ranging between 50m and 210m. Combined, they represent Addax Petroleum’s largest Nigerian properties as measured by area and also account for the majority of the Company’s recent production growth.
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OPL291: Addax Petroleum acquired a 72.5% interest in, and operatorship of, OPL291 in October 2006 from Starcrest Nigeria Energy Limited, who retained the remaining 27.5% interest. OPL291 is located approximately 130 km off the Nigerian coast in water depths ranging from approximately 1,000 to 2,300 m.
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Okwok: Okwok is located approximately 45 km off the Nigeria coast, due south of Calabar, in water depths of between 35 and 50 meters. Okwok lies within ExxonMobil’s licence area OML67, immediately to the south of OML123, and covers an area of 22,500 acres (91 km2).
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OPL227: In June 2008, Addax Petroleum Corporation has been awarded a 40% interest in OPL227, offshore Nigeria. The OPL227 licence area is located in the shallow water offshore of the western Niger Delta Basin, one of the most prolific petroleum basins in the world.
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