OML 40 has gross 2P oil reserves of 83.4 mmbbls found in the Opuama and Gbetiokun fields. It has a significant, only partly developed reserve base with outstanding upside of 40.4mmbbls gross 2C resources and 254.5 mmbbls gross best estimate prospective resources*.
Gross production from OML 40’s producing field, Opuama, was around 22,000 bopd in February 2018.
Eland has a 40% interest in the Ubima Field licence. The area covers 65km2 and was carved out of OML 17, which itself is operated by Shell Petroleum Development Company. Eland plans to workover Ubima-1 and initiate an early production system in 2018.