Pursue materially accretive acquisitions
Reservoir continuity through to Okwok and OML 115 from Ebok
Following the farm-in to develop the Ebok field with Oriental in March 2008, we had entered into a collaborative agreement with Oriental Energy Resources Limited to pursue other assets in the region; this has been successfully achieved with the addition of Okwok and OML 115 to our portfolio of assets in 2009.
We are excited by the potential at Okwok and OML 115 – especially as it means we can turn our knowledge of the area into commercial advantage.
Okwok and OML 115 are located adjacent to, and surrounding, the Ebok field, offering an attractive mix of discovered oil reserves with substantial appraisal and exploration upside. Even more important is that they are in an area where we have a detailed and proven understanding of the subsurface. Because Okwok and OML 115 are adjacent to Ebok we will have the advantage of an export solution for future production already in place. We will also have benefits of scale and efficiency of joint operations as we establish a new core production hub.
