https://www.miningweekly.com

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 Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

EKATO Africa
EKATO Africa

Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...

VISIT SHOWROOM 
Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.047 0.92s - 128pq - 2rq
Subscribe Now