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December 7, 2021updated 27 Apr 2022 12:57pm

OML 24 Conventional Oil Field, Nigeria

By Carmen

OML 24 is a producing conventional oil field located onshore Nigeria and is operated by Newcross Exploration and Production . The field is located in block OML 24.

Field participation details

The field is owned by Nigerian National Petroleum and Newcross Exploration and Production .


Production from OML 24

The OML 24 conventional oil field recovered 94.89% 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. The field currently accounts for approximately 1% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 33.63 Mmboe, comprised of 29.42 Mmbbl of crude oil & condensate, 22.89 bcf of natural gas reserves and 2.42 bcf of liquid natural gas reserves. OML 24 conventional oil field reserves accounts 0.01% of total remaining reserves of producing conventional oil fields globally.


Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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