Market DataNovember 22, 2021

Okwok Conventional Oil Field, Nigeria

By Carmen

Okwok is a conventional oil development located in shallow water in

Nigeria and is operated by Oriental Energy Resources. Discovered in
1967, Okwok lies in block Okwok (OML 67), with water depth of
around 164 feet.

The project is currently in approval stage and is expected to start

commercial production in 2023. The Okwok conventional oil
development will involve the drilling of approximately 17 wells and
includes FPSO, subsea tree, and wellhead platforms.

Field participation details

The field is owned by Oriental Energy Resources and China

Petrochemical.
 Okwok Field, Ownership (%)

Oriental Energy Resources China Petrochemical

12.00%

88.00%

Production from Okwok

Production from the Okwok conventional oil development project is

expected to begin in 2023 and is forecast to peak in 2025, to
approximately 24,357 bpd of crude oil and condensate. Based on
economic assumptions, the production will continue until the field
reaches its economic limit in 2044.
 25,000

20,000

15,000
Total Production, boed

10,000

5,000

0
2024 2026 2028 2030 2032 2034 2036 2038 2040 2042 2044

Value

Remaining recoverable reserves

The field is expected to recover 48.63 Mmboe, comprised of 48.63

Mmbbl of crude oil & condensate.
 Okwok Recoverable Reserves

Crude Oil & Condensate

100.00%

Contractors involved in the Okwok conventional oil field

Some of the key contractors involved in the Okwok project as follows.

EPC Contractors: Sea Trucks Group and Weco Engineering &

Construction

Other Contractors: Transocean and Tros offshore

About Oriental Energy Resources

Oriental Energy Resources Ltd (OERL) is an oil and gas company that
offers exploration and production of oil and natural gas properties. The
company operates three projects in the offshore Nigerian Oil and Gas
industry that include Ebok field, OML 115 and the Okwok field. Its
OML 115 is located in the translational structural setting of the prolific
offshore eastern Niger Delta. OERL’s ebok oil field is located offshore
in Nigeria’s prolific south eastern producing area. The company carries
out seismic interpretation, appraisal drilling and development planning
programs. It also offers supporter services for Nigerian domestic oil
industry. OERL is headquartered in Abuja, Nigeria.
Methodology

Information on the field is sourced from GlobalData’s fields

database that provides detailed information on all producing,
announced and planned oil and gas fields globally. Not all companies
mentioned in the article may be currently existing due to their merger
or acquisition or business closure.