https://www.engineeringnews.co.za

Erin Energy targets Oyo-9 drilling completion by year-end

12th June 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – The start of drilling operations at dual-listed Erin Energy’s Oyo-9 development well, in Nigeria, is planned for July, with a targeted completion date before year-end.

This follows the signing of a $15-million drilling contract with Pacific Drilling, in March, for the use of its sixth-generation double-hulled drill ship, the Pacific Bora rig.

Oyo-9 has the potential to increase Oyo field production by between 6 000 bbl/d and 7 000 bbl/d of oil, which will double Erin’s current production of 6 000 bbl/d.

Coincidental with the completion of Oyo-9, the company will also tie back to its floating production storage and offloading facility the Oyo-7 well, which should add 1 200 bbl/d to its production.

The company is also discussing a possible extension to the contract with Pacific Drilling, depending on the availability of funds, to drill one or two wells in the prolific Miocene geological zone located in OML 120.

Erin CEO Femi Ayoade noted that the company was pleased with the progress of its drilling operations and the possibility to more-than-double the company's current production.

“Additionally, we believe our greatest shareholder value-creation opportunities are in our Miocene exploration prospects, where we are working to accelerate the drilling in OML 120 and 121. Solid progress is also being made to restructure our debt, including the reduction in our accounts payable."

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.252 0.326s - 170pq - 2rq
Subscribe Now