Dr. Emmanuel Enu awarded The Aret Adams Award
OMLs 83 and 85 are in shallow waters 40 km offshore in the Niger Delta. The Anyala and Madu fields are discoveries with a combined STOIIP of more than 450 million bbl and GIIP of more than 800 Bscf. NNPC holds a 60% interest in the licenses while FIRST E&P holds the remaining 40% and is the operator of the assets.
The project will be developed with an existing FPSO and, is designed to add 50,000 bbls of oil per day and 120 MMscf of gas per day. Project FID is expected to be made in the fourth quarter of 2017, with first oil production in 2019. The investment in the project, phased over several years, is estimated at $700 million.
Group Managing Director of the NNPC, Dr. Maikanti Baru, said this innovative approach to funding JV operations is in response to the challenging economic environment, was novel and aligned wholly with the government’s aspiration to increase crude oil and gas production, reserves growth and monetization of the nation’s enormous gas resources.
In addition, Ademola Adeyemi-Bero remarked that “the partnership between the NNPC-FIRST E&P JV and Schlumberger introduces a new asset development model, leveraging its local knowledge and market position as an indigenous operating company, with Schlumberger’s financing and broad technical capabilities. FIRST E&P will strengthen its project delivery abilities, and this model offers the Nigeria upstream E&P industry a credible alternative funding & technical partnership model for growing production and adding reserves.”
Patrick Schorn commented, “Schlumberger is very pleased to partner with NNPC and FIRST E&P where we have the opportunity to leverage our reservoir knowledge, oilfield services and project management expertise to lower development costs and maximize value for the partners.”
An integrated oil and gas development plan will be carried out for the Anyala and Madu fields, with an estimated potential recoverable hydrocarbons volume of 340 million barrels of oil equivalent on a 100% interest basis. The produced hydrocarbons will be processed offshore in Anyala field within OML 83, with first oil production planned for Q3 2016. Oil production is estimated to reach a plateau of 50,000 bopd and the produced gas will be supplied to the Nigerian domestic supply market.
The work programme for the assets will also include maturation of infield deep prospects in Anyala field within OML 83, as well as near field exploration prospects in Ato North, Ato South and Songhai, within OML 85.
NAPE’s Monthly Technical Meeting sponsored by FIRST E&P.
OML 83 & 85 Acquisition
LAGOS, June 29, 2017— Nigerian National Petroleum Corporation (NNPC) Group Managing Director Dr. Maikanti Baru, FIRST E&P Managing Director and CEO Ademola Adeyemi-Bero, and Schlumberger Executive Vice President Patrick Schorn, signed today a tripartite agreement for development of the Anyala and Madu fields under Oil Mining Leases (OMLs) 83 and 85, offshore Nigeria.
Under the agreement, Schlumberger will contribute the required services in kind and capital for the project development until first oil. The joint project team will leverage the technical expertise of Schlumberger and the extensive local knowledge of the partners.
The main hall of the Lagoon Restaurant on Ozumba Mbadiwe Avenue in Victoria Island, Lagos was the venue of the August edition of The Nigerian Association of Petroleum Explorationists (NAPE) monthly technical meeting sponsored by FIRST E&P. The Speaker for the event, Dr Saka Matemilola, Chief Petroleum Engineer at FIRST E&P presented a paper titled Petroleum Reserves and Resource Evaluation – Aligning the NNS with Global Standards. The presentation addressed the need to align Nigerian National Standards (NNS) with global standards.
Dr. Enu received the Aret Adams award in recognition of his outstanding contributions to the field and practice of petroleum exploration and exploitation in Nigeria.
FIRST Exploration and Petroleum Development Company Limited (FIRST E&P) acquired 40% participating interests in Oil Mining Leases (OMLs) 83 and 85 from Chevron Nigeria Limited (CNL). Both of these leases are located in shallow waters offshore Bayelsa State, Nigeria. The acquisition transaction for the 40% interests in both OMLs was completed in February, 2015. The Nigerian National Petroleum Corporation (NNPC) holds 60% participating interest in both OML 83 and OML 85.
OML 83 covers an aerial extent of 125 sq. km, with Anyala field as the only discovery within the acreage. Madu field which is the main discovery within OML 85, has an aerial extent of 521 sq. km. Anyala field is located at a water depth of 55m, about 45 km off the coast of Bayelsa State and 23 km from Madu field. Full 3D seismic data have been acquired over both OML 83 and OML 85 acreages. Although both Anyala and Madu fields have been extensively appraised, production is yet to commence from the fields.
NNPC, FIRST E&P and Schlumberger Sign Agreement for Development of OMLs 83 and 85 in Nigeria.
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