In September 2014 LUKOIL entered the deep-water project on block OML-140 offshore Nigeria in the Gulf of Guinea.
In September 2014, LUKOIL acquired interest in the project from U.S.-based Chevron Corporation. The deal was approved by the Nigerian National Petroleum Corporation (NNPC) on October 6, 2015. Chevron and LUKOIL fund the project at 55% and 45% respectively. Oil and Gas Nigeria Limited and NNPC are carried partners in the project.
OML-140 includes the Nsiko, Nsiko North and Ofigbo discoveries, and a minor interest in the unitized Bonga Southwest Aparo (BSWAp) Field which is operated by Shell.
The block covers more than 1.2 thousand km2 located in the waters of Nigeria in the Gulf of Guinea; 135 km off the coast with the sea depth varies from 1.2 thousand meters to 2 thousand meters.
These projects are in the SELECT Phase of IPMS SELECT Phase, and we are evaluating different field development concepts with the Operator. The long experience Chevron and Shell have in development and production of major oil fields in Nigeria, their working relationship with NNPC and their ability to work within this strict regulatory environment makes them an ideal joint venture partner for LUKOIL.
