Erin Energy Commences Production From Oyo-7 Well | Independent Newspapers Limited
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Erin Energy Commences Production From Oyo-7 Well

Posted: Jun 23, 2015 at 12:11 am   /   by   /   comments (0)

Erin Energy Corporation has said that it has commenced production from its Oyo-7 well (“Oyo-7”) located in OML 120 offshore Nigeria.

Erin Energy said that it was the operator of the Oyo field and had a 100% interest in the block, explaining that the Oyo-7 was drilled to a total depth of approximately 8,000 feet (2,438 meters) and was successfully completed horizontally in the Pliocene formation.

The well, it said, was located in approximately 1,000 feet (300 meters) of water and was producing into the Floating Production Storage and Offloading vessel, Armada Perdana, adding that Oyo-7 is expected to produce approximately 7,000 barrels of oil per day following optimization of choke size.

Senior Vice-President of Exploration and Production, Segun Omidele, said, “We are pleased that the well is performing in-line with our expectations and we will be working over the next few days to optimize the flow rate. Bringing this well on production will double our current production rate out of the Oyo field and is a significant step in the continued growth of our company.”

He said Erin Energy drilled the Oyo-7 with two planned objectives, noting that the primary objective was to target the Pliocene formation from which it is now producing; while the secondary objective was to test the deeper Miocene formation for hydrocarbon potential.

He said the Oyo-7 successfully confirmed hydrocarbon in the Miocene formation, which was previously undrilled on the block, saying that this successful test has de-risked the Miocene in Erin Energy’s offshore Nigeria blocks and has provided valuable data for the Company’s planned Miocene exploration program, which targets recoverable P50 resources of nearly 3 billion barrels of oil equivalent.

He said that drilling of the company’s first Miocene exploration well is slated for the fourth quarter of this year.