OML 40

OML40 Asset Information

1: Production as at 31st December 2021
2: ~Ryder Scott CPR report 31st December 2021
3: ~Ryder Scott CPR report 31st December 2021 4: Netherland, Sewell & Associates Inc CPR report 31 December 2018

The OML 40 license lies within the Niger Delta approximately 75 km northwest of Warri. The lease covers an area of 498 km2 covered by mangrove swamps, tropical forest and numerous creeks.

Originally awarded to Shell in 1962 operated by SPDC (Shell), who drilled 9 exploration wells between 1971 and 1991 and produced a cumulative 43 MMbbls from the license.

OML 40 was transferred to NPDC (55%, Operator) and Eland (Elcrest) (45%) JV in September 2012 and recommenced oil production from the Opuama field in February 2014.

The licence contains the Opuama field (producing) , Gbetiokun (producing), Sibiri Prospect, 4 other discoveries (Polobo, Adagbassa, Ugbo and Tongarafa) plus numerous other prospects and leads.

Crude is transported via pipeline and/or barge to the Benin River Valve Station which connects to the LACT Unit at Otumara, then evacuated to the Forcados Oil Terminal. OML 40 license is valid through October 2038.