$15,000,000
Nigeria OPL 325
PSC Terms and Work Commitment
PSC Duration: 30 years (10 exploration + 20 Oil Mining Lease producing)
Cost Oil: Up to 70% of available crude oil for operating cost recovery
Minimum Work Commitment – Lekoil ‘s ask – mature drill or drop
Exploration Periods: 2 phases (Years 1–5, Years 6–10)
Phase I – 1000 km2 3D seismic data of which 633 km2 is acquired – seeking alternative to seismic commitment
Phase II – 1 commitment well, 326 km2 of additional 3D seismic data
Details
Asset Name
:
Nigeria OPL 325
Ref
:
AF-NIG-OPL325
Continent
: Africa
Country
: Nigeria
Location
: Offshore
Latitude
:
5.4
Longitude
:
3.4
Operator
:
Lekoil
Farmout company
:
Lekoil
Work Programmes
: Seismic, Drilling
Deal Status
:
Open
Consideration Sought
:
$15,000,000