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The Oza Field is located onland in the north
western part of OML 11, near Port Harcourt and covers an area of
20 km2.
The Oza field is subject to a farm-out agreement between NNPC,
SPDC, Elf Petroleum Nigeria Limited and AGIP as farmor and
Milennium as farmee. The terms of this agreement are for an
initial five year period from 27 April 2004 subject to an
extension of the Oza farm-out agreement if approved by the
Nigerian Department of Petroleum Resources (DPR).
The field has cumulatively produced approximately 1.0 MMstb from
four open zones of three wells targeting three reservoirs, M5.0,
L9.0 and M2.1, with the principal reservoir being M5.0. At
present, Oza has three suspended wells in the field. In November
2007 the Oza joint venture successfully executed a flow test of
the Oza 4 well. The flow rates averaged approximately 600 stbd of
oil with a GOR of 5,466 scf/stb.
The field was discovered in 1959 with the discovery well, Oza-1,
drilled to a depth of 3,279 m. The well was proposed to test
a separate anticlinal culmination on the south-eastern extension
of the Imo River-Igrita trend. The hydrocarbon-bearing sands
found in Oza are correlatable with the oil-bearing sands discovered
in Imo River wells.
Subsequently, three other wells were drilled in the field. Oza-2,
an appraisal well, was drilled to a total
depth of 11,000 ft and confirmed the lateral extent of some
intervals found in Oza-1. Oza-3, another
appraisal well, was drilled to TVD 11,000 ft in October 1974.
At the time of award of the field, the field had been shut in
from 1983 due to declining oil production and increasing GOR.
OML 11 is held by a joint venture operation between NNPC, SPDC,
ELF Petroleum Nigeria Limited and
AGIP (the ‘‘OML 11 Joint Venture Parties’’).
Pursuant to a farm-out agreement dated 27 April 2004 (the ‘‘Oza
Farm-out Agreement’’) between the
OML 11 Joint Venture Parties and Millenium, Millenium is the
operator of the Oza field and has
responsibility for undertaking the exploration, prospecting,
winning, working and carrying away of
petroleum in respect of the Oza field. The terms of this agreement
are for an initial five year period from 27 April 2004 subject
to an extension of the Oza Farm-out Agreement if approved by
the Nigerian
Department of Petroleum Resources.
On 27 June 2005 HON entered into a farm-in agreement with Millenium
(the ‘‘Oza Farm-in Agreement’’),
pursuant to which it was agreed that Millenium would farm-out
a 40 per cent. participating interest in the
Oza field to HON. HON also agreed to act as technical partner
for the development and operation of the
Oza field. The terms of this agreement are for an initial five
year period from 27 April 2004 with the
possibility to extend the term if the Oza Farm-out Agreement
is approved by the Nigerian Department of Petroleum Resources.
On 31 December 2007 the Company announced that a well test was
successfully carried out on well no.
4 with flow rates averaging approximately 600 stbd of oil average
GOR of 5,466 scf/stb.
As announced on 3 April 2008 the Company entered into an agreement
to farm-out a 20 per cent. interest in the Oza block to Emerald
Energy Resources Limited (Emerald).
The working interests (per cent.) of the field are as follows:
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Participating Interests
(%) |
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AREA |
MOGL |
HARDY |
EMERALD |
|
OZA |
60 |
20 |
20 |
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