Operations

How we operate

Considered as prime acreage conveniently located onshore next to Port Harcourt, the second industrial city of Nigeria and centre of the upstream oil industry, OML 17 covers a land area of approximately 1300km2 (c.320,000 acres). The asset contains 2P Reserves, 6 flow stations and 2 AGG gas facilities (with 2 gas plants under construction)
oml

OML 17 is an underexploited proven and scalable low-cost asset, with multiple low-risk opportunities to grow production and develop high-grade reserves, located in the Niger Delta.

The assets have been in production since the late 1950s and the 1960s, with production peaking in the 1970s at 120,000 barrels of oil equivalent per day (“boe/d”).

The asset has a recent production capacity of 27,000 boe/d and has 2P reserves of 1.2 billion boe, with an additional 1 billion boe resources of further exploration potential.

Affiliated company, Transcorp, is already one of the largest power producers in Nigeria, with 2,000 MW of installed capacity, through ownership of Ughelli Power Plant and the recent acquisition of Afam Power Plc and Afam Three Fast Power Limited. Transcorp also operates OPL281, under a production sharing contract with the Nigerian National Petroleum Corporation (“NNPC”). Heirs Holding subsidiary, Tenoil is the operator of OPL 2008, under a production sharing contract with NNPC. Tenoil is also taking the marginal Ata Field into production, with the production of 3,500boe/d expected in Q2 2021.

SOLUTIONS FOR SUSTAINABLE
PROGRESS

 

We are built to last, creating a legacy that speaks of impact,
respect for our host communities, and inclusiveness.

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