Nigerian National Petroleum Corporation (NNPC), First Exploration & Production (First E&P) and Schlumberger have signed an agreement to develop the Anyala and Madu fields under OML 83 and OML 85 in offshore Nigeria. 

Under the agreement, Schlumberger will provide services, both in terms of kind and capital, for the project development until first oil. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The joint project team will benefit from the technical expertise of Schlumberger and the local knowledge of the other partners. 

OML 83 and OML 85 fields are located in shallow waters, 40km offshore in the Niger Delta. 

"The project is designed to add 50,000bpd of oil a day and 120 million square cubic feet of gas a day."

The Anyala and Madu fields come with a combined STOIIP of more than 450 million barrels of oil and a GIIP of more than 800 billion square cubic feet. 

First E&P has a 40% stake in the licences and is the operator of the asset, while NNPC holds the remaining 60% equity.

Developed with an existing FPSO, the project is designed to add 50,000bpd of oil a day and 120 million square cubic feet of gas a day. 

The final investment decision on the project is expected in December this year, with first oil production in 2019.

Investment required for the project is estimated to be $700m.