https://www.engineeringnews.co.za

Preliminary results bode well for Camac’s offshore Nigeria oil and gas finds

Photo by Bloomberg

4th August 2014

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

After starting drilling operations around the Oyo-8 well offshore Nigeria on June 15, JSE- and NYSE-listed Camac Energy’s Northern Offshore Energy Searcher drillship has delivered “excellent” preliminary results, positively establishing oil presence in new reservoirs in the Eastern fault block.

Four new oil and gas reservoirs had been encountered at Oyo-8, which was drilled to a depth of 1 847 m.

A total gross hydrocarbon thickness of 34 m had been recorded based on results from the logging-while-drilling data, reservoir pressure measurement and reservoir fluid sampling.

A detailed evaluation of the results had started to establish the size of the incremental reserve additions, Camac exploration and production senior VP Segun Omidele said in a statement.

The Oyo-8 well, in addition to the Oyo-7 well, which was successfully drilled in October 2013, would now be completed horizontally as a producing well in the Pliocene formation of the Central Oyo field.

“We are one step closer to bringing these two high-impact development wells to production, [which] will generate immediate revenues, cash flow and earnings for our shareholders,” Omidele said.

Edited by Creamer Media Reporter

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

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:0.099 0.16s - 170pq - 2rq
Subscribe Now