Seplat Completes Acquisition of Stakes in OML 53, OML 55 in Nigeria

OML 55 covers an area of approximately 324 square miles (840 square kilometers) and is located in the swamp to shallow water offshore areas in the south eastern Niger Delta. The block contains five producing fields (Robertkiri, Inda, Belema North, Idama and Jokka). The majority of production on the block is from the Robertkiri, Idama and Inda fields. The Robertkiri field is located in swamp at a water depth of five meters and has a production platform and utility platform installed. Production capacity at the Robertkiri facilities is 20,000 barrels per day and 10 MMscf/d. Production facilities at the Idama field comprise a jackup mobile offshore production unit (MOPU) and riser platform that have a capacity of 30,000 barrels per day of total fluids and 34 MMscf/d. The Jokka field is produced through a manifold tied-back to the Idama facilities. Production facilities at the Inda field comprise a MOPU with a capacity of 30,000 barrels per day of total liquids and 34 MMscf/d. Other infrastructure on OML 55 comprises four flow-stations, a network of flow-lines and two eight-inch pipelines that connect to third party operated infrastructure. The Belema field is unitized with OML 25 and is produced via a flow-station on that block. All produced liquids from OML 55 are delivered via third party infrastructure to the Bonny terminal for processing and shipping. In addition to the oil potential on the block there is also an opportunity to develop the significant gas resources that have also been identified.