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OPL 258 Executive Summary

OPL258, located off the coast of Nigeria, consists of two segments, A and B, with significant hydrocarbon potential. OPL258A is estimated to have an ultimate recovery of over 1.5 billion barrels, valued at approximately $75 billion, while OPL258B is projected to hold five billion barrels, valued at around $250 billion. Both blocks are in early exploration stages, with seismic data available from previous surveys.

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191 views2 pages

OPL 258 Executive Summary

OPL258, located off the coast of Nigeria, consists of two segments, A and B, with significant hydrocarbon potential. OPL258A is estimated to have an ultimate recovery of over 1.5 billion barrels, valued at approximately $75 billion, while OPL258B is projected to hold five billion barrels, valued at around $250 billion. Both blocks are in early exploration stages, with seismic data available from previous surveys.

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EXECUTIVE

 SUMMARY  OF  YORKSHIRE  DEEPWATER  OIL  BLOCKS  OPL  258  


 
 

   Location  map  of  OPL258A/B  (red)  with  water  depth  contour.    


 
 
Block   OPL258   is   located   at   about   150km   away   from   south   coast   of   River   State   of   Nigeria,   and   with  
distance   of   54km   to   OPL295,   nearby   producing   block   is   OML130.   OPL258   is   separated   into   two  
2 2
segements,   258A   and   258B.   OPL258A   occupies   about   6km   and   258B   occupies   about   223km ,   the  
distance   between   A   and   B   is   15km.   The   water   depths   of   both   OPL258   A   and   B   is   in   between   1500-­‐
2000m      
 
OPL  258B  has  the  JDZ  (Joint  Development  Zone)  of  Sa  Tome,  Principe  and  Nigeria  on  the  South  West  
and  Gulf  of  Guinea  on  its  Eastern  part.  This  lease  was  discovered  with  two  exploration  Wells.  It  was  
also   discovered   that   the   reservoir   is   triangular   in   shape.   These   physical   reservoir   characteristics  
enable  it  to  receive  hydrocarbon  from  all  its  vertexes  and  accumulate  it  continually.  While  OPL258B  
constantly   receive   migrated   hydrocarbon   from   adjoining   reservoirs,   OPL258A   acts   as   a   conduit  
through  which  hydrocarbon  flows  into  258B.  These  are  favourable  reservoir  conditions  and  properties  
that  assure  low  decline  rate  and  elongated  Reserve  Life  Index  (R/P  ration).    
   

258/A

58A/B$is$close$to$ 50o$API$condensate$oil
Addax$producGon$block$
Total$block$OML130
Akpo's$water$depths$
range$from$3,600$to$
5,600$feet$(1,100$to$
1,700$meters).$

 
 
   
 
Available  information  indicates  that  OPL258A  has  expected  ultimate  recovery  (EUR)  of  over  1.5billion  
barrels  as  it  constantly  feeds  hydrocarbon  into  the  “B”  segment.  This  puts  estimated  value  of  OPL258A  
at   about   US$75billion.   OPL258B   being   constantly   receiving   and   storing   hydrocarbon   from   adjoining  
reservoirs  due  to  its  unique  sealing  characteristics,  its  expected  ultimate  reserve  has  been  put  at  five  
billion  barrels.  This  monetary  value  of  OPL258B  is  estimated  at  $250billion.  
 
Both  blocks  are  in  their  early  stage  of  exploration.  There  were  some  2D/3D  seismic  survey  shoot  many  
years  ago,  and  data  is  stored  in  National  Data  Repository  (NDR).      
 
The  above  analysis  was  made  in  2015  based  on  available  data  
 
 
While  hoping  that  the  information  provided  above  would  enable  you  reach  a  decision,  please  do  not  
hesitate  to  contact  if  further  clarification  is  required  on  any  particular  subject.  

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