OML 61

Background:

• OML 61 is located onshore, south of OML 60. OML 61 covers an area of 1,499 km² (370,410 acres) and it is the largest License in OER’s portfolio in terms of both production and reserves.

• Exploration in OML 61 began with the discovery of the Ebocha oil and gas condensate field in 1965.

• Successful exploration continued in OML 61 with the discovery of the Obiafu-Obrikom (or Ob-Ob), Idu and Oshi fields in the early 1970’s. To date, the License comprises 12 producing fields. All of the producing fields in OML 61 contain both light and medium sweet oil (25° to 45° API), condensates and natural gas.

• OML 61 also holds a rich portfolio of oil and gas prospects and leads mainly targeting the deeper underexplored reservoirs and step-out structures. Historically, oil has been the primary product, but many of the fields contain significant associated and non-associated gas reserves which are presently, and are expected to be in the future, significant contributors to gas sales. Production is primarily from the Ob-Ob, Idu, Oshi, Mbebe, Irri-Oleh-Isoko and Ebocha fields.

Production, Facilities and Infrastructure:

Production, processing and export facilities within OML 61 owned by the NAOC JV include:

• 203 production and injection wells with associated flow-lines, of which 100 wells are active;

• Five flowstations (Ebocha, Idu, Irri/Isoko, Ob-Ob and Oshi) with processing capacities ranging from 40 Mbbls/d (Oshi) to 120 Mbbls/d (Ebocha);

• 548 km of oil pipelines connecting flowstations to the Ob-Ob gas plant and the Brass River Terminal;

• Ebocha oil centre (120 Mbbls/d liquid export capacity) and the Ogoda manifold (oil gathering hubs);

• Ob-Ob gas plant (capacity 1,000 MMscf/d).

• One flowstation located at Akri (gross capacity: 50-60 Mbbls/d);

• a 150 MMscf/d capacity gas plant located at Kwal-Okpai;

• the Kwale-Okpai Independent Power Plant (IPP) with capacity of 450 MW;