PML 17

Seplat Energy has a 40% non-operated working interest in the Umuseti/Igbuku Marginal Field Area that is carved out of OML 56.

The block is located in the northern onshore depo-belt of the Niger Delta and is operated by Pillar Oil Limited (POL). The block contains one oil producing field, Umuseti, which came onstream in May 2012 and is currently producing from three development wells.

There are 17 identified oil-bearing reservoirs in Umuseti with production currently coming from five of these reservoirs. Additionally, the asset features an eastern structural extension (Anagba) straddling into Oando’s OML 60 (Ashaka Field) and the Igbuku gas-bearing structure to the south. The Igbuku structure remains the focal point of POL’s gas development agenda. Further development drilling will be required to drain the remaining reservoirs.

The Igbuku Field contains predominantly gas and condensate and is currently undergoing appraisal prior to development. The block also contains four satellite exploration leads, namely Igbuku North, Igbuku Deep, Umuseti East and Umuseti North-East, which the joint venture partners intend to further evaluate. Facilities in the block include a 7,000-bopd Early Production Facility (EPF) and 2 X 20,000 bbls crude storage tanks.

Umuseti production is evacuated to a Group Gathering Facility (GGF) where it is metered and thereafter to the OPAC refinery, or exported either via Oando Energy Resources’ Kwale facilities to the Brass terminal or via NEPL’s pipeline to Forcados terminal.