Nigeria OML52
Tetracore Energy are seeking a partner to start production at the Iheoma marginal field.
The field was discovered in 1996 before being appriased, but was never developed.
There are 6 hydrocarbon bearing reservoirs with volumes of 594Bscf (356Bscf) & 25.7mmstb (9mmstb)
The DST on IH-02ST2 COO Reservoir flowed at 1,123bopd with 26ºAPI oil, 0%BSW on 22/64 choke.
There is now the opportunity to kick-off early oil production within 7 months (1000 bopd in year 1) to (3000 bopd in year 3) with the minimum amount of capital of USD50m.
Nearby (30 km) gas processing plant (ANOH-300mmscf/d capacity), OB-3 gas pipeline, bankable domestic gas buyers within the eastern area and LNG trains in Bonny & Obite (OML 58) all contribute to multiple gas monetization options.
Opportunity to easily source financing to fund field development owing to its proven producibility.
Initial investment requirement for Phase 1 of the project is USD50m.