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December 8, 2021updated 27 Apr 2022 11:40am

OML 29 Conventional Oil Field, Nigeria

By Carmen

OML 29 is a producing conventional oil field located onshore Nigeria and is operated by Aiteo Eastern E&P. The field is located in block OML 29.

Field participation details

The field is owned by Aiteo Energy Resources and Nigerian National Petroleum.


Production from OML 29

The OML 29 conventional oil field recovered 98.63% of its total recoverable reserves, with peak production in 1990. The peak production was approximately 152.24 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2025. The field currently accounts for approximately 1% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 15.92 Mmboe, comprised of 10.41 Mmbbl of crude oil & condensate and 33.08 bcf of liquid natural gas reserves.


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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