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Opuama

Opuama

Production from the Opuama oilfield in OML 40 restarted in February 2014. The Company and its partners have since dedicated significant resources to growing this world-class asset base.

Type: Oil reserve

Production: 22,000 bopd (February 2018)

Discovered: 1972

Gross 2P: 45.4 mmbbls

Location: 92km NW of Warri

Reservoir Depth: 7,600–8,900ft

OML 40 was awarded to SPDC in 1962; the Opuama field was in production from 1975 until 2006 and during that period produced 43.4 mmbbls. In 2006, SPDC undertook a controlled shut down of OML 40, with Elcrest Exploration & Production Nigeria Limited subsequently purchasing a 45% interest in the OML 40 licence in September 2012.

The Opuama field was returned to production in February 2014 with the Opuama-1 well. Further infill wells were completed on Opuama-3, Opuama-7, Opuama-8 and Opuama-9 between April 2016 and April 2018.

Reservoir Characteristics

The reservoirs contain light crudes with API gravities ranging from 47.5° in the shallow reservoirs to 37.8° in the deep and saturated reservoirs. There has been very little pressure depletion over the 30 plus years of production, which indicates a strong aquifer support and consequently leading to very high total ultimate oil recoveries.

Infrastructure and Export

Oil can be exported by two routes: (i) via the Shell-operated Trans Escravos Pipeline network running from the Opuama field south along the coastline to the Forcados Oil Terminal, (ii) via shipping to an offshore FPSO.

Outlook

We are currently drilling a workover on Opuama-9 and will follow this up with Opuama-10 and Opuama-11.

The Opuama-7 sidetrack completed in November 2017 and proved to be an excellent well, delivering initial production rates some 25% ahead of pre-drill expectations at a cost of $14.1 million.

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Opuama-8 was the first new well to have been drilled in the Opuama field since 1980, and resulted in another success with initial flow rates in excess of 6,500 bopd.

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Opuama-9 is located on the north western flank of the field, on a separate structural culmination to that on which wells Opuama-1, 7-ST and 8 are located.

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Opuama-10 is located on the structural high identified to the north of Opuama-7 ST and is expected to encounter all reservoirs from C3000 to D5000 in a crestal, or near-crestal, location.

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