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NDEP Sucks 7MMBO Out of Ogbele

The Nigerian independent, Niger Delta Exploration and Production (NDEP), had produced Seven Million barrels of oil (7MMBBO) from  its Ogbele field in Eastern Niger Delta as of July 2012. The field production commenced in October 2005. The company is hoping it can produce many times more oil in the short term. It is also working prove that the field has reserves of 100 million barrels of oil equivalent by 2015.

The Ogbele field oil and gas probable and proven reserves (P1+P2) “stood at 51.42 million barrels of oil, 39.06 billion cubic feet (bcf) of associated gas and 517.4 bcf of non associated gas”, according to Layiwola Fatona, Managing Director of NDEP. “This brings the total gas reserves to 556. 46 bcf and total hydrocarbon (oil + gas) of 144.16 million barrels of oil equivalent (BOE), the total proven (P1) hydrocarbon reserves (liquids and gas) for the Ogbele field; including developed and undeveloped oil, condensate and natural gas liquid reserves is currently 64.l6million barrels of oil equivalent.”

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