OML 130 is in the deepwater Niger Delta, 130 kilometres offshore. The block contains the producing Akpo and Egina fields and the Preowei discovery.

The Akpo field was brought onstream in 2009, while the ultra-deepwater Egina field was sanctioned in 2013 and came onstream in 2018.

The acreage was awarded to South Atlantic Petroleum via a discretionary allocation by the Federal Government in 1998 as an Oil Prospecting License 246.

SAPETRO thereafter farmed out 24 per cent to Total Upstream Nigeria and 16 percent to Prime 130 Nigeria Limited.

In 2003, the OPL was converted to OML 130 and the Federal Government, through NNPC, backed into 50 percent of the Asset in 2005 with SAPETRO as the Contractor with 100 percent contractor interest.

This arrangement led to OML 130 having two funding and operational mechanisms, the NNPC’s Production Sharing Contract governing half of the block and the international oil companies’ Production Sharing Agreement governing the other half.

Differences in the interpretation of the 2005 PSC led to disputes that required concerted efforts to resolve, including the execution of the Gas Entitlement Agreement in 2021 and a Settlement and Repayment Agreement in 2022.

To date, the Akpo field via the Akpo FPSO has produced over 646 million barrels of condensate, while the Egina field via the Egina FPSO has produced over 233 million barrels of crude oil.

So far, about 1.6trillion standard cubic feet of gas has been commercialised from both fields with an outstanding record of non-zero gas flare.

OML 130, currently producing about 170,000 barrels per day is the largest producer in TotalEnergies’ Nigeria portfolio and among the most prolific assets in Nigeria.