OPL 227 is located 40km offshore Niger Delta and covers an area of 974km. The field is bounded to the North by OML 109 and the Ogedeh/Akepo Marginal fields (OML 90), to the East by OPL 282, to the West by OML 79, and to the South by OML 88. The asset was awarded to a consortium of ADDAX Petroleum Limited, Express Petroleum and Gas Company Limited, Petroleum Prospects International Limited, and Aradel. With the exit of Addax Petroleum from the asset, Aradel was nominated as the Operator by the partners subject to approval of the regulator which is currently being processed. As part of its mandate to fast-track the development of the asset, an extensive review of previous works was carried out, and we look to embark on further exploration activities.
The field license for OPL 227 was renewed for 3 years in March 2021
Express Petroleum & PPI
6% plus an additional 45% awaiting ministerial approval