40% Participating Interest In Oil Mining Lease (oml) 151
Interested in this property?
Property Description
FOR SALE: 40% Participating Interest in Oil Mining Lease (OML) 151 -- Nigeria
License Valid Until 2036 (Renewable Every 20 Years)
We are offering to a credible, ready, willing, and able investor the opportunity to acquire 40% participating interest in OML 151 and participate in the development of the asset to First Oil.
Asset Overview: OML 151 Oil Block
Location: Offshore -- Situated between Bayelsa and Akwa Ibom States, in shallow waters (PSC area).
Deal Structure & Price:
Acquisition Cost (40% Interest): USD 80,000,000
Development Cost to First Oil: USD 226,860,000
Total Investment: USD 306,860,000
Facilitator's Fee: 10% of total investment (USD 30,686,000) payable by buyer.
Grand Total Investment: USD 337,546,000.
Geological Report: Available and up-to-date.
Reserves:
Gross 2P Oil Reserves: 47.1 MMbbl
Gross 2P Gas Reserves: 147.2 Bcf
Gross Prospective Resources (P50): 2,791 MMboe
License Validity: Expires 2036, renewable for an additional 20 years.
Infrastructure: Access to nearby FPSOs, production platforms, processing facilities, and pipelines.
Levies & Statutory Fees: Up to date. Any outstanding obligations will be settled by the seller prior to closing.
Additional Data: Technical and proprietary data available upon execution of NDA/CA and submission of verifiable proof of funds.
Status: OML 151 is in the pre-development phase, with an approved development plan targeting First Oil within approximately two years after funding.
Key Investment Highlights
Opportunity to enter a producing-asset-ready block with near-term production potential.
Estimated initial production at start-up: ~15,000 barrels of oil per day plus associated gas sales.
Significant upside from additional condensate, LPG, and NGL production.
Material gas reserves capable of sustaining sales contracts for 20+ years.
Procedure for Closing the Deal
Submission of LOI including:
Verifiable Proof of Funds (VPOF) with Authority to Verify.
Buyer's company profile or CIS of the Chairman/Managing Director (LOIs without VPOF will not be entertained.)
Upon verification, NDA/CA will be signed and technical data shared.
A face-to-face meeting with the seller to finalise commercial terms.
Execution of transaction agreements, payment, and transfer of the 40% interest.
Consultancy & Brokerage Fee
Buyer shall pay a 10% consultancy/brokerage fee (USD 30,686,000) --- split between intermediaries as agreed
Property Details
| Property Ref: 3049848 | Added On: 22 Aug 2025 | Last Updated: 22 Aug 2025 |
| Market Status: Available | Type: Commercial Property |
Interested in this property?
Disclaimer
The information displayed about this property comprises a property advertisement. Nigeria Property Centre makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Nigeria Property Centre has no control over the content. This property listing does not constitute property particulars.The information is provided and maintained by Bb Davids Global Construction Limited. Nigeria Property Centre shall not in any way be held liable for the actions of any agent and/or property owner/landlord on or off this website.
Marketed by
Bb Davids Global Construction Limited
F8b Sunnyvale Estate, Lokogoma, Abuja, Nigeria
0806 XXXX Show Phone
08069831720
Registered 2 years ago
View all properties from this developer