Otakikpo Marginal Field

Reserve Estimates resources estimated at 48.6mmbbls

OPL 310

Ogo field gross recoverable resources identified as 774 mmboe (P50)

Our Assets Summary

LEKOIL is an Africa-focused oil exploration and production company with interests in Nigeria.

Producing asset
Otakikpo marginal field (LEKOIL: 40% interest)

Otakikpo lies in a coastal swamp location in OML 11, adjacent to the shoreline in the south-eastern part of the Niger Delta.

The field will be developed in two phases. In the first phase, which saw commercial production begin in February 2017, the target is for production of approximately 10,000 bopd via an Early Production Facility and export via shuttle tanker. The second phase will see a new Central Processing Facility and seven new wells to bring production up to some 20,000 bopd.

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Appraisal asset
Ogo discovery and OPL 310 (LEKOIL: 17.14% interest)

OPL 310 is located in the Dahomey Basin on the West African Transform Margin. The block extends from the shallow water continental shelf close by the City of Lagos, into deeper water. The main prospects are in water depths ranging from 100 to 800 metres and are within close proximity to the West Africa Gas Pipeline.

The Ogo-1 well and the Ogo-1 ST well were successfully drilled in 2013 and resulted in a significant oil discovery. From well data, the partners estimated P50 gross recoverable resources to be 774 mmboe across the Ogo prospect four-way dip-closed and syn-rift structure.

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Appraisal asset
OPL 276 (LEKOIL: 45% interest)

Acquisition announced in August of a 45 per cent participating interest in the Production Sharing Contract in relation to OPL 276, covering a territory located onshore in the eastern Niger Delta basin. Four wells have been drilled in the licence area, resulting in four discoveries (two oil and two gas) with preliminary resource estimates, based on data from the four wells, of gross recoverable volumes of 29 million barrels of oil and 333 Bcf of gas, with upside of 33 million barrels of oil and 476 Bcf of gas (recoverable).

Exploration asset – known basins
OPL 325 (LEKOIL: 62% interest)

The OPL 325 licence area, located in the offshore Dahomey Basin within the wrench zone that straddles the western Niger Delta, is located 50km to the south of OPL 310. Preliminary review of the prospects, based on an independent study commissioned by LEKOIL, suggests oil in place volumes of up to 5.7 billion barrels with an estimated 2 billion barrels recoverable based on analogues.

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LEKGAS is a wholly-owned subsidiary of LEKOIL. LEKGAS is the gas midstream vehicle of LEKOIL, building strategic, commercial and technical partnerships with world-class companies to unlock gas and gas-to-power opportunities mostly in Nigeria which is LEKOIL’s primary country of operations.

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