Receive our newsletter – data, insights and analysis delivered to you
  1. Market Data
December 8, 2021

OML 42 Conventional Oil Field, Nigeria

By Carmen

OML 42 is a producing conventional oil field located onshore Nigeria and is operated by Neconde Energy. The field is located in block OML 42.

Field participation details

The field is owned by Nigerian National Petroleum, VP Global, Kulczyk Investments, Serinus Energy, Aries Energy & Petroleum and Nestoil.


Production from OML 42

The OML 42 conventional oil field recovered 92.99% 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 2030. The field currently accounts for approximately 1% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 66.57 Mmboe, comprised of 66.57 Mmbbl of crude oil & condensate. OML 42 conventional oil field reserves accounts 0.01% of total remaining reserves of producing conventional oil fields globally.


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.

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.

Content from our partners
Green investment: What gives Scotland multiple advantages
How the North of Tyne region is leveraging its legacy to define its future
Q&A with Chevron Lubricants’ Paul Sly, global industrial OEM specialist, and Nathan Knotts, global brand technical manager

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU