Nigeria License Areas
Offshore license areas
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OML123
OML123 is Addax Petroleum’s largest license 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.
Field description
- Covers an area of 90,700 acres (367 km2) in water depths ranging from 3 to 40m
- Contains eight producing oil fields (Adanga, Oron West, North Oron, Ebughu and extensions, Adanga North Horst, Akam, Bogi and Mimbo), two undeveloped oil fields (Kita Marine and Antan) and four unappraised oil discoveries (Inagha, Adanga East, Adanga West and Ebughu NE-A)
Facilities and production
- The producing fields in OML123 are operated as a common development area
- The key production facility is an FPSO which gathers produced crude oil from production or wellhead platforms on each field. The former FPSO was replaced in September 2006 by the Knock Adoon FPSO, which has a processing capacity of 60Mbbl/d of crude oil, a total liquids (oil and water) processing capacity of 140Mbbl/d and a storage capacity of 1.7MMbbl of crude oil. It also incorporates an off-loading buoy terminal to facilitate offloading during periods of strong currents to accommodate larger tankers
- The Knock Adoon is under a time charter with a subsidiary of Fred Olsen Production A.S. The primary term of this charter is anticipated to expire in June 2014, with extension periods thereafter of up to a further eight years at the Corporation’s option
Since 1998 Addax Petroleum has successfully applied advanced and proven technologies to further develop the OML123 licence area. In addition to increasing the proved reserves, oil production rate has also increased from less than 10,000 bbl/d in 1998 to an average of 55,850 bbl/d for 2007.