OML 124 is a producing conventional oil field located onshore 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 124 (OPL 118). Buy the profile here.
Field participation details
The field is owned by NNPC.
Production from OML 124
The OML 124 conventional oil field recovered 95.54% of its total recoverable reserves, with peak production in 1982. The peak production was approximately 15.14 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2039.
Remaining recoverable reserves
The field is expected to recover 6.45 Mmboe, comprised of 6.45 Mmbbl of crude oil & condensate.
About NNPC
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 124 Conventional Oil Field, buy the profile here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.
