Petroleum Pros[ecting License (PPL) 256 (Asasa West Field) is located in 50 km offshore Eastern Niger Delta in a water depth of about 150 ft. Asasa West field was previously designated as a field but now operated under the Petroleum Prospecting License number (PPL 256) in accordance with the Petroleum Industry Act (PIA), 2021. PPL 256 is situated in the NW corner of OML 102, a block operated by TEPNG Joint venture (JV) with NNPC. Access to the field is either by marine vessel or helicopter.

PPL 256 is covered by 18 Km2 of 3D seismic data of good quality. Asasa West field was discovered by the Asasa West-1 well in 1982 which was a vertical well drilled to 7,777ft. The well encountered two hydrocarbon bearing sand between 5,160 – 5,306 TVD.

The nearest production facilities to Asasa West field are: Asasa Platform located approximately 2km to the east of Asasa West, Mbamba platform located approximately 5km to the north of Asasa West and the Inim-Usiere platform, located approximately 15km to the north of Asasa West field, all these platforms are within OML 67 and are operated by Mobil.

Subamad Energies Limited was formed as the Special Purpose Vehicle (SPV) to own and operate 100% interest in PPL 256 (Asasa West Field). PPL 256 was awarded to Subdrill Exploration and Production Limited (93.29%), Amalaia Limited (5.05%) and Deep Offshore Integrated (1.66%) in June 2022 and in line with Petroleum Industry Act, 2021. Since then, the Subamad has concluded a detailed field development plan, environmental evaluation study, uncertainty studies, facility studies, etc.