…The Owowo-3 field spans portions of the contract areas of Oil Prospecting License 223 (OPL 223) and Oil Mining Licence 139 (OML 139)
…The Owowo-3 well was spud on September 23 2016, and extends the resource discovered by the Owowo-2 well, which encountered about 515 feet of oil-bearing sandstone reservoir
…Owowo-3 Project, a huge deep-water project with potential recoverable resource of between 500 million and 1 billion barrels of oil in the offshore field
TUE OCT 22 2024-theGBJournal| The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Monday approved the $1.3 billion ExxonMobil onshore oil and gas asset sale to Seplat, and experts now expect the multinational oil company (ExxonMobil) to turn focus on developing its huge Owowo-3 deep-water offshore asset in Nigeria.
ExxonMobil, last month announced its was considering investing as much as $10 billion in Nigeria’s offshore assets business in the coming years.
The planned investment will see ExxonMobil potentially pour the $10 billion into its Owowo-3 Project, a huge deep-water project with potential recoverable resource of between 500 million and 1 billion barrels of oil in the offshore field.
The Owowo-3 well was spud on September 23 2016, and extends the resource discovered by the Owowo-2 well, which encountered about 515 feet of oil-bearing sandstone reservoir.
The well was drilled safely to 10,410 in 1,890 of water, ExxonMobil said after confirmation of the find.
The Owowo-3 field spans portions of the contract areas of Oil Prospecting License 223 (OPL 223) and Oil Mining Licence 139 (OML 139), drilled by ExxonMobil affiliate Esso Exploration and Production Nigeria (Deepwater Ventures) Limited.
ExxonMobil holds 27 percent interest and is the operator of both OPL 223 and OML 139.
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