OPL 907
| OPL 907 |
|
Working Interest
|
41% |
| Production Start up |
– |
Production Peak
|
– |
| Local Partner |
Global Energy Company
|
| Operator |
Afren |
| Work programme |
Seismic data interpretation, exploration drilling |
OPL 907 and OPL 917
Background
The licences are located in the Anambra Basin, onshore Nigeria - the second most prospective basin in Nigeria - with estimated remaining gas resources in excess of 5 trillion cubic feet (tcf) of gas. However, the basin remains largely unexplored with only 30 wells drilled to date leading to six discoveries. The two licences cover an area totalling over 3,500 km2.
OPL 907
OPL 907 licence covers 1,462 km2 and contains the Akukwa gas and condensate discovery, with estimated in place volumes of up to 400 billion cubic feet (bcf). Four shallow coreholes were drilled by Shell prior to the Akukwa-1 (1955) and Akukwa-2 (1956) wells that were drilled by Shell/BP. The Akukwa-1 well encountered gas and condensate in Cretaceous sandstones but was not fully evaluated. The Akukwa-2 appraisal well found approximately 500ft net gas pay in several horizons and produced dry gas on test.
Terms
In March 2008, Afren through a Joint Venture agreement with Global Energy Company Limited (GEC) has signed Production Sharing Contracts for OPLs 917 and 907. Under the terms of the agreement, Afren Global Energy Resources (AGER) has taken a 41% interest in OPL 907 and a 42% interest in OPL 917, and will act as operator of both assets. The JV agreement between Afren and GEC defines the commercial terms under which Afren will participate with GEC in the exploration and development of the two licences. Afren's interests are held through AGER in which Afren holds an 80% economic interest.
Outlook
Near term work programme includes block environmental impact assessment data gathering and analyses on existing discoveries. New 2D seismic data is expected to be acquired, prior to exploration/appraisal drilling in 2011/2012.
Fast Facts
- Located in highly prospective Anambra Basin with estimated 5 tcf prospective resources
- The 2 licences cover an area totalling over 3,500 km2
- OPL 907 contains Akukwa gas and condensate discovery, with estimated in place volumes of up to 400 bcf
- OPL 917 contains the Igbariam gas and oil discovery, with estimated in place gas volumes of up to 300 bcf and oil in place up to 80 mmbbls
- Exploration/appraisal drilling in 2011/2012