Photo by: Bloomberg
JSE-listed Camac Energy is about two weeks away from its first oil output from the now completed Oyo-8 well in the oil and gas explorer’s prospective Oyo offshore oil- and gasfield, off the coast of Nigeria.
Camac on Tuesday announced that it had completed the operations at the well and was ready to start oil production as soon as the American Bureau of Shipping (ABS) completed its class certification inspection of the floating production storage and offloading (FPSO) vessel’s mooring lines.
FPSO Armada Perdana owner Bumi Armada Berhad expected the vessel to be ready to receive oil from the now completed Oyo-8 well in two weeks.
“The delay in commencing production due to the ABS certification process on the FPSO is very unfortunate; however, we are confident that Bumi is taking all necessary steps to complete the process as quickly as possible,” Camac chairperson and CEO Kase Lawal said in an update to shareholders.
The Texas-headquartered group was now demobilising the Transocean Sedco Express drilling rig from the Oyo-8 location for despatch to the Oyo-6 well location to continue the planned Oyo field operations.
The Sedco semisubmersible drilling rig arrived on location in December after the termination of the Energy Searcher drillship contract with international drilling company Northern Offshore.