On April 27, 2004, Millennium Oil and Gas Company Limited (MOGCL) was awarded the Oza Field and designated as the Operator with 100% participating interest. In 2005, MOGCL farmed out 40% of the field to Hardy Oil Nigeria (HON), which subsequently farmed out 20% to Emerald Energy Resources Ltd (EERL) in 2008.
Presently the working interest holdings of the field are:
MOGCL – 60% (Operator);
HON – 20%
EERL – 20%
Oza Field covers a total of 20.02 sq km and was discovered in 1959 by SPDC in OML 11. 3 Wells were drilled between 1959 & 1964 with 11 hydrocarbon reservoirs encountered with only 3 reservoirs, M5.0, M2.1 & L9.0 completed for production. The Oza field has a proven reserve of 8.51MMBBLS, 18.69MMBBLS probable reserves and 27.87MMBBLS possible reserves. The OZA field is also rich in gas with about 12.16BCF reserve.
Vision
We aim to become Nigeria’s premier indigenous exploration and production company, leading the way in sustainable growth and industry innovation.
Mission
We are dedicated to responsibly discovering and producing Nigeria’s energy resources, driving sustainable growth and pioneering industry innovation. Our mission is to deliver exceptional value to our stakeholders through ethical practices, operational excellence, and a steadfast commitment to the communities we serve.
Core Values
- Professionalism
- Individual & Team Efficiency
- Accountability
- Sustainable Stakeholder Value Creation
- Good Corporate Governance