Nigeria Licence Areas
Offshore licence areas
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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. The highly prospective nature of the property is underlined by its proximity to the nearby world-class Agbami oil field in an adjacent block, which is currently under development by Chevron. OPL291 represents the mandatory relinquishment area following conversion of OPL216 to OML127 prior to development of the Agbami field in OML127. OPL291 was tendered by the Nigerian government under the 2006 mini bid round and was originally awarded to Starcrest.
Addax Petroleum acquired approximately 1,500 km2 of 3D seismic over the northern portion of OPL291 in order to further define the Merlin and Emrys prospects as well as to add to the licence area’s prospect inventory.
There has been no production to date and no reserves have been booked for OPL291.
Description
- Covers an area of 318,100 acres (1,287 km2) in water depths ranging from 1,000 to 2,300 m
- OPL291 is immediately adjacent to OML127 (to the east) which contains the Agbami and Ikija fields, operated by Chevron and OPL242 (to the west) operated by Devon Energy Corporation
- Two potentially significant prospects (Merlin and Emrys) are identifiable from existing 2D and a 3D seismic data covering the majority of the licence area, as well as a number of leads from this data