OML 24 is a producing conventional oil field located onshore Nigeria and is operated by Newcross Exploration and Production. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, the field is located in block OML 24. Buy the profile here.
An expansion project is associated with the OML 24, namely the OML 24 Development. This project is currently in the approval stage, expected to start in 2023.
Field participation details
The field is owned by Newcross Exploration and Production and NNPC.
Production from OML 24
The OML 24 conventional oil field recovered 97.08% of its total recoverable reserves, with peak production in 2003. The peak production was approximately 63.55 thousand bpd of crude oil and condensate and 26 Mmcfd of liquid natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2028.
Remaining recoverable reserves
The field is expected to recover 18.94 Mmboe, comprised of 18.66 Mmbbl of crude oil & condensate and 1.68 bcf of liquid natural gas reserves.
Contractors involved in the OML 24 conventional oil field
Some of the key contractors involved in the OML 24 project as follows.
Other Contractors: Penspen and Crestech Engineering
For more details on the OML 24 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.
