Nigeria License Areas
Offshore license areas
OML126
OML137
OML137 and OML126
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OML137
OML137 and OML126
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OML126 and OML137
OML126 and OML137 are two contiguous blocks located 90 km offshore, south of Port Harcourt, in water depths ranging between 50 m and 210 m. 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. Production from OML126 commenced in March 2005 and averaged 41,250 bbl/d in 2007. Oil gravity ranges between 35° and 38° API. OML137 is an exploration and appraisal property. To date there has been no production from, and there are no production facilities on, OML137.
License area description
- Cover a combined area of approximately 387,800 acres (1,570 km2), 90 km offshore south of Port Harcourt
- The southern half of OML126 has been completely surveyed by 3D seismic and contains two producing oil fields (Okwori and Nda), three undeveloped oil discoveries and three identified exploration prospects ¨
- A 3D seismic survey is planned to be carried out over the northern part of OML126 during 2008
- OML137 was surveyed by 3D seismic in early 2006 and contains the Ofrima North oil discovery and several potentially commercial natural gas discoveries (Shokoloko, Toriye, Odum, Asanga, Ofrima and Udele West). In addition there are three identified oil prospects (Ofrima South, Asanga South and Asa) and a number of shallow and deep leads
Production facilities
- The key production facility for OML126 is an FPSO which has a processing capacity of 50 Mbbl/d of crude oil, a total liquids (oil and water) processing capacity of 60 Mbbl/d and a storage capacity of approximately 1.45 MMbbl of crude oil
- The OML126 FPSO is under a time charter from Sendje Berge Ltd., a company within the Norwegian shipping group Bergesen now owned by Worldwide Shipping of Hong Kong. The primary term of the charter expires in February 2009 with extension periods of up to an additional four years at Addax Petroleum’s option.