Our Assets
As an independent player in the Energy industry, our focus is to ensure we provide significant and viable contributions to energy needs and security locally and globally.
OML 83 & 85
In 2015, FIRST E&P acquired a 40% working interest in OMLs 83 and 85, home to the Anyala Madu Songhai and other discovered fields and prospects situated in the shallow waters of the Niger Delta, with depths ranging from 10 to 60 meters.
Serving as the operator for both assets, FIRST E&P played a pivotal role in developing the fields, resulting in a combined daily production of approximately 57,000 barrels from Anyala and Madu fields only. Anticipating further in-field development phases, the company expects an increase in daily production rates across both assets.
OML 71 & 72
In 2015, FIRST E&P acquired a 6.75% indirect participating interest in OMLs 71 & 72. This interest was obtained through FIRST E&P's 15% shareholding in West African Exploration and Production Company Limited (WAEP), which holds a 45% participating interest in both assets. These assets are located in the shallow offshore region, south of Bonny, Rivers State, with water depths ranging from 15 to 55 meters.
OML 72 encompasses seven many fields: Kalaekule, KD, Koronama, Kugbe, KL, KQ, and Kappa, while OML 71 includes, KI and KI South. Previous operations by a different operator saw peak output from the Kalaekule field in OML 72 reached 22,000 barrels per day between 1986 and 2002, before production ceased. Under the current operator, WAEP, first oil from these assets is anticipated to be achieved in Q2 2024 through an ongoing re-entry project in the Kalaekule field.
OML 34
In 2012, FIRST E&P secured a 4.5% interest in OML 34, located in the Onshore Niger Delta in Delta State. This 4.5% interest is held by a wholly-owned subsidiary of FIRST E&P, namely FIRST Exploration & Petroleum Development OML 34 Limited. This subsidiary, in turn, holds a 10% shareholding in ND Western Limited, which holds a 45% participating interest in OML 34.
OML 34 is a substantial oil mining lease currently engaged in the production of oil, condensate, and gas, catering to vital domestic gas markets in Nigeria and the broader West African region. The asset comprises three active Oil and Gas producing fields: Utorogu, Ughelli West, and Ughelli East, along with two non-producing fields, Warri-River & Effurun and many yet to be drilled prospects. Presently, the average production from block OML 34 stands at approximately 17,000 barrels of oil per day (kbopd) and 400 million standard cubic feet per day (Mscfd). However, plans are in place to significantly increase production, targeting a plateau production level of 60 kbopd and 550 Mscfd.