- Energy Transition: Projections of peak oil, gas, and coal demand before 2030 deemed ‘extremely risky and impractical’
- Africa: BW Offshore wraps up much-anticipated sale of Nigerian FPSO
- Senegal: European JV aims to revolutionize country’s power infrastructure
- Congo: Eni, Lukoil, and SNPC ink LNG sale and purchase agreement in a ‘significant milestone’
- Aramco CEO calls for ‘more realistic and robust’ multi-source plan in global energy transition
Africa Oil & Gas: NNPC, FIRST E&P and Schlumberger sign agreement for development of OML 83 and 85, offshore Nigeria

Nigerian National Petroleum Corporation (NNPC), FIRST Exploration & Production (FIRST E&P) and Schlumberger have signed a tripartite agreement for development of the Anyala and Madu fields under OML 83 and OML 85, offshore Nigeria.
OML 83 and OML 85 are in shallow waters 40 km offshore in the Niger Delta. The Anyala and Madu fields are discoveries with a combined STOIIP of more than 450 million bbl and GIIP of more than 800 Bscf. First E&P holds a 40% interest in the licenses and is the operator of the asset; NNPC holds the remaining 60%.
The project will be developed with an existing FPSO and is designed to add 50,000 bbls of oil per day and 120 MMscf of gas per day. Project FID is expected to be made in December 2017, with first oil production in 2019. The investment in the project, phased over several years, is estimated at $700 million. The agreement is based on a guaranteed project return and includes a payment assurance bank facility.(Source: Schlumberger)
You must log in to post a comment.