OPL 281
| Company | |
| Industry | Oil & gas |
| Headquarters | Nigeria |
|
Key people
|
Emmanuel Nnorom, Chairman |
| Products | Petroleum |
| Website | http://www.teragro-ng.com |
OPL 281 is an asset of Transnational Corporation of Nigeria (Transcorp) Plc headquartered in Lagos, Nigeria. OPL 281 is one of the most prolific remaining oil and gas exploration assets in the Niger Delta. The substantial reserves form part of Transcorp’s integrated energy strategy, which combines power generation, downstream refining and petrochemicals.
In May 2014, Transcorp signed a Production Sharing Contract (PSC) with the Nigerian National Petroleum Corporation (NNPC) and obtained full regulatory approvals to begin oil and gas prospecting in OPL 281. There was also a partnership agreement entered into with Sacoil Holdings of South Africa. This agreement entered into a cul-de-sac in early April 2015 as Sacoil announced they were pulling out of the partnership as a result of its ongoing portfolio rationalization. The pulling out of the South African Oil Giant did not in any way affect the funding of the oil block. Transcorp hopes that by 2017, OPL 281 will begin oil and gas production and has so far acquired and evaluated some 150 km2 of 3D seismic, with its first well planned for drilling by the end of 2015.
Transcorp Energy is the operator of the OPL 281.
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Wikipedia