OPL 283 is operated under a Production Sharing Contract (PSC) with the Nigerian National Petroleum Corporation (NNPC). It is in the Northern aspect of the Niger Delta, and has a total acreage of 1272 sq. km (which includes 285 sq. km farmed out as marginal fields), the concession is easily accessible by roads and straddles both Delta and Edo states.
The asset boundaries are OML 147 (North), OML 38 (West), OML30 (South),OML 143 & 60 (East).
With known discoveries in the same geo-zones, Newcross has invested in a newly acquired 200 sq. km 3D data as part fulfillment of the work program and executed successful drilling operations on the asset, for which a positive investment decision has been made.