OML 151

OML 151 (formerly OPL 2009) is an offshore asset located on the South Eastern flank of Niger Delta, with an acreage size of about 313 sq. km. It is located in water depths ranging from 30-100 metres.

GPDC has 51% working interest, while Eni/Agip has 49% working interest. It consists of one appraised field (Afiando field), with 2P reserves of 47.1 MMbl oil and 230 Bcf gas as well as four identified prospects with P50 resource volumes of 2,792 Mboe.

The Afiando field is located on the Northern flank of a collapsed crestal roll over anticlinal structure and has the Okono discovery in OML 119 to its south. Its structure has been compartmentalized into five fault blocks (I, II, III, IV and V). Its blocks II, III and IV have been explored and appraised by the two wells drilled (Afiando 2 and 3 wells) with the hydrocarbons encountered currently planned for development. Current development concept foresees production of 15,500 bopd, 75-100 mmscf/d and 2,500 bcpd from 3 development wells and 2 NAG wells in Reservoirs A1, A3, D2D3 and E.

Compartments II, III and IV will be developed by re-entry and completing the already drilled Afiando 3 well. Production from this well would add to those from the planned Afiando-4 and 5 development wells.

The remaining block potentials comprises the Afiando I and V blocks along with the neighbouring Idak East and Idak West prospects when completed, is expected to add an additional P50 resource volumes of about 2792.5 MMboe

First oil& Gas from the Afiando field is achievable within 18-24 Months.