The OML 40 area produces light oil with low GOR and has a very strong aquifer drive resulting in high ultimate recoveries. 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 of gross unrisked prospective resources*. Gross production from OML 40’s producing field, Opuama, was around 22,000 bopd in February 2018.
The environment in OML 40 consists of shoreline and coastal mangrove swamps. The region is lightly populated with indigenous groups living in dispersed riverine communities, mainly from the Ijaw and Itsekiri ethnic groups.
*As estimated by Netherland, Sewell & Associates Inc. as at 31 December 2017.