$6,500,000,000
Factory for sale
Oil Mining Lease
Oml "11" Available For Sale Current Sale Price: $6.5 Billion Dollars Facilitators Fee: 5% (Not Negotiable) (Buyer Pays 5% & Seller Pays 5%) Oil Mining Lease (OML) 11 is one of the most important oil blocks in Nigeria, located in the southeastern part of the Niger Delta basin. Location and Geography Location: Oml 11 covers a vast area in the southeastern Niger Delta. It is both onshore and in shallow swampy terrain, extending from coastal swamps in the south to dry land in the north. State and terrain: The lease spans both Rivers and Abia states. It includes diverse landscapes, from mangrove forests in the swampy sections to dry land. The Ogoni land community in Rivers State is a prominent location within oml 11. Key facilities: The area hosts several critical oil and gas infrastructure facilities, including the Bonny Export Terminal, the largest in Africa, and the Bonny LNG plant. The Afam VI Power Plant and the Okoloma Integrated Oil and Gas Plant are also within the lease. Asset and production details Status: Fully functional Oil and Gas Fields: Originally, oml 11 contained 33 oil and gas fields. After marginal fields were carved out, it was left with 30 fields. Notable fields: The Asaramatoru Field is located in the southern swampy area and was last in production in 2018. The Oza Field is in the northern, dry-land part of the lease and is being developed by Decklar Resources under a Risk Service Agreement with Millenium Oil and Gas. Composition: Specific details on crude oil composition for the entire block are not publicly available. However, some wells, like those at the Oza field, have produced light crude oil. A peak production of 120,000 barrels of crude a day is targeted by reviving some fields. Reservoir: While specific information on every reservoir is not publicly detailed, assets like the Asaramatoru and Oza fields have been described as conventional, stacked-sands reservoirs. Some fields also contain gas. Seismic Data: General information on seismic data for the Niger Delta is available in research studies, but specific data for oml 11 is not public. Exploration activities in the region involve 3-D seismic data acquisition. Licensing and Operational Information Current Operator: Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Company Limited (NNPC Ltd). NPDC officially resumed operatorship in 2021 after a court affirmed the transfer of the lease. Former Operator: Shell Petroleum Development Company (SPDC) previously held the lease. However, following a protracted dispute and court proceedings, the lease was ultimately transferred to the NPDC. Licensing: The transfer of the lease was heavily litigated. In 2019, a federal court initially ordered the license renewal for SPDC, but this decision was overturned by an appellate court in August 2021, paving the way for NPDC to take over. Land Size: The specific total land size is not consistently cited in public records, but a former court case noted that attempts were made to reduce the area from the total area covered by oml 11, which was legally challenged. The lease covers a large portion of the Niger Delta. Lease Validity: Under the Petroleum Industry Act (PIA) of 2021, petroleum mining leases (PMLs, the new term for OMLs) have a maximum term of 20 years and are renewable. The specific validity dates for the current NPDC-operated license are not publicly detailed. Discovery: The initial oil discoveries and subsequent development of oml 11 fields began decades ago, with Shell being active in the area from as early as 1958. Production and Development Current Production: The oml 11 conventional oil field recovered 93.22% of its total recoverable reserves, with peak production in 1976. Potential: Efforts are being made to revive fields that previously produced crude oil and to further explore the remaining 30 fields to increase production. Infrastructure: The lease includes the Bonny oil terminal, the largest in Nigeria, and the Bonny LNG plant. Slvje
