Considered as prime acreage conveniently located onshore next to Port Harcourt, the second industrial city of Nigeria and centre of the upstream oil industry, OML 17 covers a land area of approximately 1300km2 (c.320,000 acres). The asset has 6 flow stations, 2 Associated Gas Gathering facilities and 1 gas plant and an additional gas plant under construction.
OML 17 is an underexploited proven and scalable low-cost asset, with multiple low-risk opportunities to grow production and develop high-grade reserves, located in the Niger Delta. The assets have been in production since the late 1950s and 1960s, with production peaking in the 1970s at 120,000 barrels of oil equivalent per day (“boe/d”).
The asset has a recent production capacity of 27,000 boe/d and has 2P reserves of 1.2 billion boe, with an additional 1 billion boe resources of further exploration potential.