Lekoil reveals intention to farm-down Nigerian block

Image: Lekoil

Africa-focused oil and gas company Lekoil has revealed an intention to farm-down its working interest in OPL 325 license offshore Nigeria, following completion of an independent study which identified eleven prospects and leads on the block. 

The OPL 325 license is located offshore in the Dahomey Basin, straddling the western Niger Delta, 50 kilometers south of OPL 310. Lekoil holds a 62 percent equity interest in OPL 325, through Ashbert Oil and Gas Limited.

Lekoil said on Wednesday that Lumina Geophysical carried out a geophysical evaluation of around 800 square kilometers of 3D seismic data provided by the company.

As a result of this seismic review, Lumina identified and reported on a total of eleven prospects and leads on the block, estimated to contain potential gross aggregate oil-in-place volumes of over 5,700 mmbbls (un-risked, best estimate case).

Lumina focused primarily on the Paleocene section of the block, generating new structural and stratigraphic maps using 3D pre-stack time migration seismic data.

Lekoil revealed its intention to farm-down a portion of its working interest in OPL 325 following a detailed prospect and lead risking study.

Lekan Akinyanmi, Lekoil CEO, said: “This independent report underlines our belief in the prospectivity of this asset that was part of our original Dahomey basin study. The deepwater turbidite fan play is particularly exciting for OPL 325.

“As one of Lekoil’s key assets, we are delighted to have third-party endorsement of our prospective resources, and our significant equity holding in the block gives us plenty of optionality for the next phases of exploration.”

Share this article

Follow Offshore Energy Today

Events>

<< May 2018 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

2nd AFRICA OIL & GAS LOCAL CONTENT CONFERENCE AND EXHIBITION

The 2018 programme has been created around the outcomes and recommendations of the previous, highly successful event, and will focus…

read more >

25th Anniversary International Caspian Oil & Gas Conference

In 2018, the largest oil and gas event in the Caspian Region – the Caspian Oil & Gas Exhibition and Conference Incorporating Refining…

read more >

7th Oil and Gas Kenya 2018 Products & Eqpt. Exhibition in Africa

The 07th Oil & Gas Africa – Int’l Trade Exhibition, 29 – 31 May, 2018, is a hub for key players in the oil and gas…

read more >

FPSO Brazil Congress 2018

This is the first and only conference dedicated to the entire lifecycle of the Brazilian FPSO industry…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply