IOC and NNPCL Report Finding Oil in OML 102.

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The joint venture between TotalEnergies EP Nigeria and the Nigerian National Petroleum Company Limited has claimed an oil discovery in offshore Oil Mining License 102, which might increase Nigeria’s production of oil and gas.

The IOC stated in a statement on Tuesday that OML 102 is situated 60 km off the southeast coast of Nigeria in shallow waters. TotalEnergies EP Nigeria, which owns a 40% stake in OML 102, operates the facility with partner NNPC Ltd, who owns the remaining 60%.

In well-developed and exceptional grade reservoirs, the Ntokon-1AX finding well reportedly found 38 meters of net oil pay and 15 meters of net gas pay, while its side-track Ntokon-1G1 found 73 meters of net oil pay.

Up to a maximum, Ntokon-1G1 tests were successful of about 5,000 barrels per day of 40° API oil.
Located 20 km from the Ofon field facilities on OML102, Ntokon is planned to be developed through a tie-back to these existing facilities.


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