The OML 40 licence lies onshore within the Niger Delta, approximately 65km northwest of Warri and covers an area of 498 square kilometres. The acquisition of a 45% equity stake in OML 40 was completed in September 2012 and has been producing oil from the Opuama field since 2014.

OML 40 contains the producing Opuama Field; the Gbetiokun Field, which commenced production in H1 2019; the large, low risk, Amobe prospect (Propective Resources of 78MMstb) on which an exploration well will be drilled; the potentially large Abiala discovery (Contingent Resources of 26MMbbl) which will be appraised in 2020; four other discoveries (Adagbassa, Polobo, Ugbo and Tongarafa) and about 20 other prospects and leads, including the Abiala North and South prospects, which lie adjacent to the Abiala-1 discovery.