OML 123 is a producing conventional oil field located in shallow water in Nigeria and is operated by NNPC. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, the field is located in block OML 123 (OPL 98), with water depth of 132 feet. Buy the profile here.
Field participation details
The field is owned by NNPC.
Production from OML 123
The OML 123 conventional oil field recovered 85.55% of its total recoverable reserves, with peak production in 2008. The peak production was approximately 58.31 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2038. The field currently accounts for approximately 1% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 55.14 Mmboe, comprised of 55.14 Mmbbl of crude oil & condensate. OML 123 conventional oil field reserves accounts 0.01% of total remaining reserves of producing conventional oil fields globally.
NNPC Ltd (NNPC), formerly Nigerian National Petroleum Corp, is a vertically integrated oil and gas company. It explores, produces, refines, transports and markets oil, refined petroleum, petrochemicals and associated by-products. The company operates through a network of refineries that produce products such as linear alkyl benzene, benzene, polypropylene, heavy alkylate, and kerosene, among others. It also provides transportation services. The company operates through subsidiaries that encompass the entire spectrum of oil industry operations, including exploration and production, gas development, refining, distribution, petrochemicals, engineering and commercial investments. NNPC serves customers in Nigeria and internationally. The company also produces biofuels and carries out the commercial exploitation of other renewable energy resources. NNPC is headquartered in Abuja, Nigeria.
For more details on the OML 123 Conventional Oil Field, buy the profile here.