OPC reviewed the resources in two blocks in Africa and provided a Competent Persons Report (CPR) letter summarising the findings of its Due Diligence Reports and Reserves Audit.
The client supplied subsurface data, static and dynamic models and an economic model in order that OPC could perform a full due diligence technical report and economic analysis to determine current Proven Undeveloped Reserves and Contingent Resources.
The subsurface work was performed in Lagos as all data was initially provided in Lagos and the client interface was also in Lagos.
Economic modelling was performed in the UK and reviewed in Dubai. The reserves Audit was performed under PRMS and LSE Guidelines and the CPR letter was produced after the client had fully reviewed and agreed the Due Diligence Reports.
Whilst OPC was not required to build an economic model the supplied model was updated to include all revenue streams from produced hydrocarbons.