Our Projects

Benin Estuary Field (PPL 214) was awarded to Rosa Mystica Energy Limited (30.14%), Sublime Exploration and Production Limited (29.84%), Platform Petroleum JV Technical Limited (24.01%) and Seistech Energy Limited (16.01) after the 2020 marginal fields bid round. o
The lease was initially awarded for a period of 3 years (June 2022 – June 2025) and recently renewed for another 3 years (June 2025 – June 2028).
SRS E&P Limited was incorporated in 2021 as the Special Purpose Vehicle (SPV) to operate the asset.
The field is situated along the north-western boundary of OML 43 and PML 36 (Previously OML 49).
The field is situated offshore at the mouth of the Benin River; <4 m water depth, significant Marine Operational Constraints.
NUPRC in 2024 mandated the unitization of straddling & non-straddling reservoirs between Kito and Benin Estuary Fields for efficient resource management. o Benin Estuary field was discovered in 1988 by BE-1 well drilled to total of 10,370 ft. MD.
The well encountered eleven (11) hydrocarbon bearing sands comprising of oil and gas with an average porosity of 24%, water saturation ranging from 22-38%. The well was subsequently suspended.
The field is near existing process facilities and pipelines in the Forcados-Yorla and Otumara Fields in OML 43 and Kito Field in OML 49 (Chevron).
Possibility of sharing the existing infrastructure thereby potentially reducing CAPEX (Kito Field is less than 2kms North of BE Field).
Proposed exploration, appraisal and development strategy include drilling additional wells to appraise the Benin Estuary structure and prove up play concept for a prospect east of the BE Field.
Two phased minimum work program commitment. Phase 1 (Data gathering & evaluation, well re-entry, completion and testing). Phase 2 (New well & FDP).
Several amplitude supported stratigraphically trapped resources with substantial additional undiscovered potential have been identified