Operations
Abiala field is a marginal field carved out of the OML 40 block. The field was discovered by Abiala- 1 well drilled by SPDC in 1989. The field was carved out of the OML 40 block in 2003 and awarded to Naphta Global Exploration & Production Ltd on the 28th of June 2022 (PPL 209).
Elcrest farmed into the Abiala Marginal field in 2022 and announced an agreement with Naphta Global Exploration & Production Ltd for 95% equity, while Naphta retains a 5% carried interest.
Elcrest is the Operator, Technical & Financial Partner in the Elcrest/Naphta Joint Venture.
In January 2024, all definitive agreements related to the Abiala Marginal Field (including the Farm-in Agreement – FIA, Joint Operating Agreement – JOA, Financial and Technical Services Agreement – FTSA, and Deed of Assignment) were executed.
Abiala-1 well was re-entered and recompleted as a Two String Dual (TSD) in June 2024. Abiala-2 well further appraised the Abiala field was drilled in August 2024 and completed as a Two String Multiple (TSM). First oil in Abiala Marginal Field was achieved in September 2024 via Extended Well Test.
Crude is processed via Abiala Early Production Facility (EPF) and evacuated via barging to the Benin River Valve Station onward to the Forcados Oil Terminal.
Abiala currently contributes 7.5 MMbbls to Elcrest’s 2P Reserves portfolio.
