Barents Sea

Unrelenting Excellence

Barents Sea Oil & Gas

We are a global enterprise dedicated to creating value and delivering growth through our international affiliates, primarily in the field of energy exploration and production.

Built on a strong foundation of intellectual and financial capital we have some 100 years of entrepreneurship at our core. Recently, Barents has brought this expertise to the fore of the energy sector. Our well-established team thrives in an environment that rewards independent thinking and passionate commitment, and our approach ensures replicable successes.

Our greatest investment is in our people. Our core staff have operated as a team for many years and enjoy a broad range of complementary skills.

Asset portfolio

Across exploration, development, and production Barents Sea has a robust pipeline portfolio of oil and gas assets in Africa and elsewhere.

We currently hold interests in valuable licenses for exploration, development, and production of oil and gas concessions, with a focus on mature well enhanced recovery and maintenance in Africa and the Middle East using the latest technologies.

In Africa, Barents Sea holds the licence to OML119. OML 119 is a 725km2 block of two fields, Okono and Okpoho, which are connected to the Mystras FPSO. There is a technically recoverable resource in excess of 154 mmbbl with exploration opportunities throughout the block, such as the A Cluster prospect, with an estimated 180 mmbbl. OML 119 sits in water depths between 50 and 200m in the Niger Delta, with the two fields in the shallow marine sands of the Agbada Formation, which are characterised by stacked deltaic sands and shale interbeds.

First oil in Okono was achieved in 2001 with a peak oil production of 30 Mstb/d in 2012. Four wells are on production. First oil in Okpoho was May 2004, with peak production of 50 Mstb/d in 2006. Two wells are on production. All wells are flowed naturally. The pipeline between the fields needs replacement which will significantly increase daily production.

Additional interests are being secured in Iraq and North Africa.