OML 42 is a producing conventional oil field located onshore Nigeria and is operated by Neconde Energy. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, the field is located in block OML 42. Buy the profile here.
An expansion project is associated with the OML 42, namely the OML 42 Development. This project is currently in the feasibility stage.
Field participation details
The field is owned by Aries Energy & Petroleum, Kulczyk Investments, Nestoil, NNPC, Serinus Energy and VP Global.
Production from OML 42
The OML 42 conventional oil field recovered 98.73% of its total recoverable reserves, with peak production in 1972. The peak production was approximately 153.35 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2026. The field currently accounts for approximately 1% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 11.47 Mmboe, comprised of 11.47 Mmbbl of crude oil & condensate.
Contractors involved in the OML 42 conventional oil field
Some of the key contractors involved in the OML 42 project as follows.
Other Contractors: Penspen and Crestech Engineering
About Neconde Energy
Neconde Energy Limited (Neconde Energy) is a consortium formed by Nestoil Plc, Aries Energy & Petroleum Company Limited (AEPCL), VP Global Limited (VP Global), Kulczyk Oil Ventures Inc. (Kulczyk Oil) and Kulczyk Investments S.A. (Kulczyk Investments). Neconde Consortium acquired 45% participating interest in OML 42 in Niger Delta basin from The Shell Petroleum Development Company of Nigeria Ltd., Total E&P Nigeria Limited, and Nigerian Agip Oil Company Ltd, for a purchase consideration of approximately $600m. The consortium includes Neconde Energy and its members AEPCL, VP Global, Kulczyk Oil and Kulczyk Investments.
For more details on the OML 42 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.
