R28 Energy, a subsidiary of R28 Holdings, is seeking an experienced and well-financed partner to explore, appraise, and develop four deepwater Petroleum Prospecting Licences (PPLs) it secured in Nigeria's 2024 licensing round. The company has paid all signature bonuses for blocks PPL 2002, 2007, 3011, and 303-DO, located in water depths of 1800 to 3200 meters on the Niger Delta's western and eastern lobes. A data room is currently open for potential partners.

Block-Specific Details and Prospectivity

The blocks are situated near major existing discoveries and infrastructure. PPL 2007 contains an extension of Eni's Etan discovery and lies west of TotalEnergies' Egina and Akpo fields. PPL 303-DO is west of ExxonMobil's Erha complex and Bosi discoveries. PPL 3011 is west of Shell's Bonga South West-Aparo project and near Chevron's Nsiko and Ofigbo discoveries. PPL 2002 is south of the Nsiko-Ofigbo assets and west of ExxonMobil's Uge discoveries. The primary source rocks are the Akata and Agbada shales, with reservoirs in Agbada sandstones.

Resource Potential and Data Status

Initial assessments have identified leads with significant hydrocarbon potential. PPL 2007, with two legacy wells (gas condensate and volatile oil finds), has six leads potentially holding 3.5 billion barrels of oil in place. PPL 3011, with two legacy wells including a gas find, has four leads potentially holding 6.5 billion barrels. PPL 303-DO has five leads potentially holding 3.2 billion barrels, with clear upside potential. Combined, the leads across the blocks could contain approximately 13 billion barrels of hydrocarbons in place. Full 3D seismic coverage exists for PPL 2007 and 3011, while PPL 303-DO is half covered. R28 has been working with Xodus on seismic interpretation for these three blocks. Studies for PPL 2002 will commence after 3D seismic acquisition.