OML 112 (formerly OPL 469), is located in the eastern part of the Niger Delta. The block was awarded to Amni International Petroleum Development Company on a sole risk basis on the 24th of August 1993. It covers an area of 437SqKm. OML 117 (formerly OPL 237) is similarly located. It was awarded to Amni on the 13th of October 1994 as OPL 237, and was converted to OML 117 for a term of 20 years on 6th August 1999. It covers 50SqKm.
 

Net Oil Reserves and Contingent Resources

*~ 97% gas; Conversion Factor: 1 boe = 6mscf
* Equivalents "2C": Gross gas at 1,602 BCF, Net gas 961 BCF.
All Reserves/Resources figures as of 31/8/10. Gaffney Cline & Associates
 

IMA FIELD

The Ima field is located in OML 112 and 117 and contains an existing oil field, which has been in production since 1996, with current production levels of approximately 1,600 bbls/d. Redevelopment work will increase production back to around 4,000 bbls/d.

 MA Oil

Amni entered into agreements in 2005 under which TOTAL acquired a 40% interest in OMLs 112 and 117. TOTAL subsequently relinquished its rights to the crude oil from the presently known reservoirs of IMA in April 2007. Amni is entitled to 100% of the crude oil from these reservoirs and bears all royalties and taxes due in relation to “Ima oil”.

IMA Gas

Under the agreement with TOTAL, Amni is carried through the development of gas reserves (2C: 1.6TCF) until production. TOTAL will then recover costs out of revenues from gas production.

OKORO/SETU

The Okoro and Setu East Fields are located in OML 112, with the two fields separated by 6.5km in a water depth of 5m to 14m. TOTAL relinquished both its right to participate in and any future development of the Okoro/ Setu fields, allowing Amni and Afren Energy Resources Limited (as Contractor) to enter into a Production Sharing and Technical Services Agreement in March 2006, facilitating field development.