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Marginal Field Program

A marginal field can be defined as any field that has not been produced from for a period of 10 years or more. Additionally, Marginal Fields are:

  1. Fields not considered by license holders for development due to assumed economics under prevailing fiscal terms.
  2. Fields that have an exploratory well drilled on their structure and which have been reported as oil and gas discoveries for more than 10 years.
  3. Fields with crude oil characteristics different from current streams (such as with high viscosity and low API gravity) which cannot be produced with conventional methods or current technology.
  4. Fields with high gas and low oil reserves
  5. Fields that have been abandoned by the leaseholders for up to three years because of economic reasons.
  6. Fields that the present leaseholders may consider for farm out due to rationalization.

In 2003, 24 licenses were awarded to indigenous firms.

There are still many opportunities available to foreigners through "unattached" partners and additional marginal fields to be offered for sale.

Since the fields are surrounded by the major operations of the IOCs, they are never too far from key infrastructure. Tying back production is usually available and subject to negociation. In the case of Ogedeh, we have several options to sell our oil.

Map of Marginal Fields