Oando secures operatorship offshore Nigeria

Oando Energy Resources has completed acquisition of the Nigerian upstream oil and gas assets of ConocoPhillips for $1.5 billion.

Offshore staff

CALGARY, Canada – Oando Energy Resources has completed acquisition of the Nigerian upstream oil and gas assets of ConocoPhillips for $1.5 billion.

These include interests in two offshore concessions. One is a 95% operated interest in OML 131, 70 km (43 mi) south of the Niger Delta coastline in water depths of 500-1,200 m (1,640-3,937 ft).

The 1,204-sq km (465-sq mi) block contains two oil and gas discoveries, including the Chota field, discovered in 1998. The Nigerian Department of Petroleum Resources (DPR) has approved the unitization of Chota with the Bolia field in OML 135, withShell appointed operator of the unitized area.

The other interest is 20% of Oil Prospecting License 214, 110 km (68 mi) offshore in water depths of 800-1,800 m (2,624-5,905 ft).ExxonMobil is the operator.

OPL 214 covers 2,586 sq km (998 sq mi) in the central part of the offshore Niger Delta. Nearby discoveries include Bonga, Nsiko, andAgbami.

In June, the Nigeria’s Minister of Petroleum Resources approved the conversion of OPL 214 into OML 145 for an initial period of 20 years. OML 145 holds four oil and gas discoveries including theUge field, discovered in 2005.

08/04/2014

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