This is the topic taken up by the International Energy Agency (IEA) in this report, which builds on a multi‑year programme of analysis on the future of oil and gas in the IEA World Energy Outlook ( WEO) series. The increasing social and environmental pressures on many oil and gas companies raise complex questions about the role of these fuels in a changing energy economy, and the position of these companies in the societies in which they operate.īut the core question, against a backdrop of rising GHG emissions, is a relatively simple one: should today’s oil and gas companies be viewed only as part of the problem, or could they also be crucial in solving it? The regional source rock is the underlying Akata shale.įull field development planning is in its early stages, but a phased approach is envisaged, driven by strong commercials, with wells initially produced through an Early Production System evacuating production by pipeline to nearby infrastructure.The oil and gas industry is facing increasing demands to clarify the implications of energy transitions for their operations and business models, and to explain the contributions that they can make to reducing greenhouse gas (GHG) emissions and to achieving the goals of the Paris Agreement. The wells encountered stacked sand and shale intervals of the Miocene Agbada Formation. It is an onshore (swamp) marginal field located in the Central Niger Delta Sedimentary Basin, 12km from the Ogbele terminal and about 18km north-east of the Soku Field, operated by Shell.Įgbolom has an Estimated Ultimate Recoverable (2P) Reserves of about 86 million barrels and STOIIP (2P) of 219.8 million barrels with a reservoir depth of 762m. The Egbolom Discovery consists of two wells, Egbolom-1, a vertical well drilled in March 1982 to a total depth of 11,118 ft MD and Egbolom-2 drilled in August 1986 approximately 2.1 km north-west of Egbolom-1 to depth of 12,390 ft MD. The Egbolom marginal field, formerly situated in OML 23, was discovered in 1982. PPL 202 is jointly held by SunTrust Oil, being the licensee with the largest participating interest, and four others.įurther to the grant of SunTrust Oil’s Participating Interest and the directive of the Nigerian Upstream Petroleum Regulatory Commission to incorporate a special purpose vehicle to operate the Egbolom field, SunTrust Oil, together with its co-licencees have jointly incorporated Ingentia Energies Limited (“IEL”) each licencee’s shareholding in IEL corresponding with its participating interest in PPL 202. Following a successful bid for the Egbolom marginal field (OML23) during the 2020 marginal field bid round, the Federal Government of Nigeria granted SunTrust Oil a 35.82% participating interest in PPL 202 (“ Participating Interest”).
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