$25,000,000
Nigeria OML 42
Neconde energy is divesting its working interest on block OML 42. The licence is situated in onshore West Delta holding 7 fields and 5 undeveloped discoveries. Production on the block started in 1969. Rehabilitation work has been undertaken since on Ajuju, Batan, Odidi, Jones Creek and Egwa fields. Further upside potential up to 6 TCF estimated on the block. Facilities in place with 7 flow stations with combined capacity of 345,000 bbls of liquid per day.
Details
Asset Name
: OML 24
Ref
: AF-NGA-OML24
Continent
: Africa
Country
: Nigeria
Location
: Onshore, Offshore
Project Phase
: Production
Latitude
: 5.4390
Longitude
: 5.5060
Operator
: Neconde Energy
Other partners
: Nigeria Petroleum Development Company (NPDC)
Farmout company
: Neconde Energy
Work Programmes
: Production, Other
Back Costs
: > $10m
Equity Offered
: 80 - 100%
Deal Status
: Open
FarmoutAngel Valuation
: $25,000,000 - $50,000,000
FarmoutAngel confidence
: Medium
Consideration Sought
: $25,000,000