OPL Vs OML: Oil Production Licenses In Nigeria by easternunion: 9:24am On Oct 06, 2016 |
There are two types of Licenses issued to oil producers in Nigeria namely: the Oil Prospecting License (OPL) and the Oil Mining License (OML) with validity periods ranging from 5 to 20 years respectively. All the Petroleum (Crude Oil) in Nigeria is vested in the Federal Government, whose sole responsibility it is to control the resources and only permit their exploitation under license, in accordance with the Petroleum Act 1969. The State allocates acreages (Licenses) to operators in any such areas deemed to have potential for petroleum accumulation at the discretion of the Minister of Petroleum Resources. The allocations will be based on a set of criteria that would be made known to deserving companies at the time such blocks are open for bidding. The State reserves the right to participate in the operations of any block and to determine the type of contractual arrangements between the Allotee(s) and the Government. Oil Prospecting License (OPL) This confers exclusive rights of surface and subsurface exploration for the production of petroleum in an area not more than 2590 km2. (1000 m2) in size. The OPL is granted in inland basins for an initial period of 3 years with the option of renewal for a maximum period of 2 years. For the deep water blocks and frontier basins the exploration period is ten (10) years, broken into two 5-year periods which automatically roll over unless otherwise withdrawn due to non-performance. Oil Mining Lease (OML) A Licensee who has fulfilled the work commitment according to Petroleum (Drilling and Production) Regulations of 1969 and the conditions otherwise applicable to the individual License may demand that the License be converted to an OML. An OML is granted upon confirmation of potential for commercial production of petroleum from the License. The OML grants exclusive rights to explore, win, produce and carry away petroleum from the relevant area. The regulation size is 1295 km2. (500 m2) and the specified duration is 20 years. Only the holder of an OPL is entitled to apply for conversion of Oil Prospecting License to an Oil Mining lease, through the Department of Petroleum Resources (DPR) for approval. The production of 25,000 barrels per day is required as the minimum production level (commercial quantity) for conversion of a deep offshore OPL to an OML. However, for other areas, a production level of 10,000 barrels per day is required. ~Eastern Union Energy http://easternunionenergy.com/opl-vs-oml-oil-production-licenses-nigeria 3 Likes |
Re: OPL Vs OML: Oil Production Licenses In Nigeria by TOESL25(m): 8:18am On Oct 20, 2016 |
VERY EDUCATIVE WRITEUP. THIS IS REALLY AN EYE OPENER AND IMPRESSIVE. 2 Likes |
Re: OPL Vs OML: Oil Production Licenses In Nigeria by VANENON(f): 9:46am On Jun 12, 2017 |
Re: OPL Vs OML: Oil Production Licenses In Nigeria by slimdamatrix1(m): 4:08pm On Nov 30, 2018 |
Very informative. Thank you OP |
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Interactive Oil & Gas Map Of Nigeria - Lgtnigeria.com by hexgear(m): 12:29pm On Dec 28, 2012 |
This interactive Oil & Gas map of Nigeria was developed in-house and shows all the oil block concessions and their current operators in the country. The project represents a work in progress; the mission is to continuously update the map so that it reflects the most current and up to date information. In the long run this map will feature a lot more detailed information such as wells, fields and infrastructure and at that time will represent a more complete look at the Oil & Gas industry of Nigeria. Using the Map The application incorporates the Google Maps JavaScript API and can be viewed on most computers, tablets and smartphones except for BlackBerry smartphones which do not support Google Maps. Follow the link below to view the full screen version of the map. You can zoom in and out using the zoom buttons on the top-left of the screen or the mouse wheel. If you zoom in enough the names of each oil block will be displayed on the screen. Click on the oil block you're interested in to reveal more info about the block such as the license type and current operator. Oil & Gas Map of Nigeria http://www.lgtnigeria.com/oilBlockMap.php Let us know what you think or if there are any areas you feel we can improve on. Thanks! |
Sections: politics(1)businessautos(1)jobs(1)careereducation(1)romancecomputersphonestravelsportsfashionhealth religioncelebstv-moviesmusic-radioliteraturewebmastersprogrammingtechmarket Links: (1)(2)(3)(4)(5)(6)(7)(8)(9)(10) Nairaland - Copyright © 2005 - 2020 Oluwaseun Osewa. All rights reserved. See How To Advertise. 19 Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland. |