During 2013, the company drilled an appraisal well and side track targeting the Eko, Agege and the Syn-rift prospects, which led to the discovery.
Based on data from the vertical and side track wells, P50 recoverable resources atOgo were estimated at 774 MMboe recoverable.
The company is waiting for ministerial consent from the Department of Petroleum Resources, which it expects to receive soon. Based on an interpretation of 3D seismic acquired last year, it is studying options for the next phase of appraisal and exploration on the block with partner Optimum.
Lekoil also has a 62% interest in OPL 325, on trend with Ogo. It is looking to execute a production-sharing contract with NNPC.
Offshore Namibia, the company has secured a one-year extension to an exploration license for blocks 2514 A and B in the Luderitz basin, from the Ministry of Mines and Energy.
There is no linked incremental capex beyond the original $2.75-million commitment.
Subject to funding, the company plans to finish geological and geophysical work already scoped out.
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