- 14 mapped prospects
- Field holds 500mb oil equivalent
Atlas Petroleum International, the Nigerian indigenous oil production company, with operation in 12 African countries, has announced resumption of oil mining activities and well interventions on oil morning lease (OML) 109 in Nigeria, which would enhance production from the Ejulebe marginal field. The oil block was awarded to Atlas Petroleum in 1991, and it entered into production through the development of the Ejubele discovery in September 1998.
OML 109 comprises 14 identified and mapped prospects and leads, and an un-risked resource potential in excess of 500 million barrels of oil equivalent. Its low-cost operating environment in shallow water and proximity to existing oil and gas infrastructure such as the Escravos terminal make it one of the most attractive assets in Nigeria’s Niger Delta, with significant untapped and under-explored hydrocarbons potential.
Located in Lagos, Nigeria’s business and financial capital, Atlas Petroleum International and Oranto Petroleum (called Atlas Oranto) represent one of Africa’s largest Nigerian and privately-held exploration and production group. The companies currently have an extensive footprint across the African continent, holding 22 oil and gas licenses in 12 jurisdictions.
“The renewed development of OML109 will bring a boost to local content development in Nigeria, and support the industry’s recovery following the Covid-19 crisis. As Nigeria multiplies efforts to build domestic capacity and develop the Nigerian content, we intend to live up to expectations as one of the country’s major indigenous player,” said Arthur Eze, executive chairman of Atlas Petroleum.
Eze, widely known in the hydrocarbon industry for decades, said Atlas Oranto expects the ongoing wells interventions on OML 109 to deliver quick wins on the recovery and enhancement of production from the field.
He lauded the Department of Petroleum Resources (DPR) for facilitating all permits to the companies.