Assets

OML 53

NDPR acquired a 100% stake and operatorship of the Omerelu Field in 2014 from the NNPC/Chevron (JV).

The Omerelu Field is located in OML 53 about 42 kilometers as the crow flies North West of Port Harcourt in Rivers State, Nigeria.

The field is estimated to hold a recoverable reserve of 13 MMstb of oil and 16 BScf of gas (P50), which upon production will augment NDPR’s booked reserves and future (short to medium term) production output.

Development activities are currently ongoing with first oil slated for early Q2 2019.

OML 54

Located in Rivers State, Ogbele is NDPR’s Flagship asset.

NDPR acquired the Ogbele Marginal Field, situated within the old OML 54, in 2000 from the NNPC/Chevron JV. It was the first ever Marginal Oil Field Farm Out Agreement to be negotiated in Nigeria, between a Multinational /NNPC JV and a Nigerian Independent Company.

Oil production commenced in November 2005 and since then, the field has developed into a fully integrated oil and gas producing asset, comprising a crude oil processing facility with a 20,000 b/d capacity Flowstation, a 100MMcf/d capacity gas processing plant and a 1000 bls/d Mini Refinery, which is currently being expanded to 11,000bls/d.

In addition to the discovery well, eight producing oil and gas wells have been drilled and completed within the Ogbele Field, with more planned for the immediate future.

At the end of January 2018, cumulative production stood at 13.3MMbbl of Oil, 62.9BScf of Gas respectively and 85.2MMltr of Diesel produced and sold to the Nigerian domestic market.

NDPR’s Ogbele field, today remains the only non-JV Gas supplier into the Bonny NLNG.

OML 34

In 2012, NDPR and three other Consortium Partners through a special purpose vehicle – ND Western Limited, completed the acquisition of the 45% interests of the Shell/Total/Agip JV in Oil Mining Lease (OML) 34, after a historic signing ceremony with NNPC/Shell/Total and Agip JV.

OML 34 is located in the Western Niger Delta and covers an area of some 950 square kilometers. The producing fields within the assets are Utorogu, Ughelli East, and Ughelli West, with a total flowstation processing capacity of 90 Mbpd.

Warri River Field was previously producing, until an imposed shut-in in 1997. The field is expected to return to production.

The producing asset, has three Gas Processing Plants; two in Utorogu Field (NAG-1 and NAG-2) with 360 and 150 MM Scfd capacity respectively and the third in Ughelli East Field with 90 MMScfd capacity. The combined fields currently produce an average of about 390 MMScfd of gas, and 17,000bpd of oil and condensate.

Due to its high gas reserves, OML 34 is of national importance for domestic gas supply, as well as feeding gas supply into the West African Gas Pipeline (WAGP) to neighboring countries of Benin, Togo and Ghana.

OPL 227

OPL 227 is located 40km offshore Niger Delta and covers an area of 974km2. The field is bounded to the North by OML 109 and the Ogedeh/Akepo Marginal fields (OML 90), to the East by OPL 282, to the West by OML 79 and to the South by OML 88.

The block was Awarded to a consortium of ADDAX Petroleum Limited, Express Petroleum and Gas Company Limited, Petroleum Prospects International Limited and NDPR.

With the exit of Addax in 2015, NDPR was designated as Operator with 51% equity holding in 2017.

Development strategies to ensure early OML conversion of the asset are currently being evaluated.

South Sudan

South Sudan is one of the world’s youngest countries, formed in July 2011, and is also one of the least explored having endured a civil war lasting from 1983 until 2005. Oil production didn’t recommence until May 2013 at 500.000bpd, with IOCs reactivating their interest in the area including TOTAL. Exxon Mobil, ONGC, and CNPC all acquiring acreage.

The petroleum geology of South Sudan is good with several rift basin present all of which confirm a working hydrocarbon system which forms part of the Central African Rift Valley. South Sudan currently relies on an export pipeline via Khartoum to Port Sudan and the Red Sea. Disputes have occurred regarding the fees payable for using this route and the South Sudan government has been keen to find other routes to export. These include routes through to Kenya or Ethiopia, and Djibouti. Such pipeline projects would only be viable if giant new oil discoveries were made.

NDEP have formed a JV with the South Sudan national petroleum company called Nile Petroleum Corporation. Currently, NDEP has no stake in licenses in South Sudan and is providing consultancy services to the government and using its projects in Nigeria like Ogbele and Omerelu as templates that could be applied to South Sudanese oil development. The ultimate goal in our opinion is to achieve a stake in a concession. We believe this could offer Bluesky potential for the company not only from the perspective of diversifying away from Nigeria, but also from the size of the prize and vast opportunity set which South Sudan’s concession areas represent.