OSO CONDENSATE

closed

Closed

Through the development of the Oso condensate field, the OSO Condensate Field Development Project aims to increase Nigerian hydrocarbon exports, thereby enhancing significantly, the country's foreign exchange earnings. In addition, the project will contribute to the institutional strengthening of the Nigerian National Petroleum Corporation (NNPC) by assisting in establishing the first formal joint operating agreement for upstream oil operations in Nigeria, strengthening NNPC's ability to market condensate, and reviewing NNPC's rolling five-year corporate plans and commercialization program. The project consists of the commercial development of the Oso condensate field jointly owned in undivided interests by NNPC and Mobil Producing Nigeria (MPN). The field is situated 12 miles off-shore southeastern Nigeria. Recoverable reserves from the reservoir to be developed under the project are estimated conservatively at 330 million barrels over the 21-year life of the project, with a production profile of 100,000 barrels per day during the first three to four years, and declining gradually thereafter. The facilities consists of eight off-shore platforms for wellheads, production facilities, gas compression and living quarters; 120 miles of sub-sea pipelines for condensate and gas; onshore condensate storage and metering systems; and an offshore tanker loading facility for condensate. The drilling program consists of 19 wells which include gas reinjection and production wells.

World Bank Group

Project

Water Supply and Storage, Oil and Gas, Commercial, Government