Erin Energy Obtains Extension Of Exploration Period In Kenya, Appoints New Chief Operating Officer | Independent Newspapers Limited
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Erin Energy Obtains Extension Of Exploration Period In Kenya, Appoints New Chief Operating Officer

Posted: Sep 15, 2015 at 12:30 am   /   by   /   comments (0)

Erin Energy Corporation has announced that it has obtained an eighteen-month extension of the Initial Exploration Period (IEP) of its offshore Kenya blocks, L27 and L28, noting that the IEP on blocks L27 and L28 has been extended to February 2017.

Senior Vice President, Exploration and Production, Segun Omidele, said, “We are delighted to receive this eighteen-month extension. This additional time to evaluate these blocks will allow us to acquire 3D seismic data and to look for suitable partners on the blocks.”

He noted that the extension of the IEP of the Production Sharing Contracts for blocks L27 and L28 was effective as of August 9, 2015, adding that the required work remaining includes the acquisition, processing, and interpretation of 3D seismic data on both blocks.

He said that Erin Energy is the operator and has a 100% interest in both offshore blocks, noting that Erin Energy Corporation is an independent oil and gas exploration and production company focused on energy resources in sub-Saharan Africa. Its asset portfolio, he said, consists of 9 licenses across 4 countries covering an area of 43,000 square kilometres (10 million acres), including current production and other exploration projects offshore Nigeria, as well as exploration licenses offshore Ghana, Kenya and The Gambia, and onshore Kenya.

Meanwhile, Erin Energy Corporation also announced that it has appointed its senior vice president for exploration and production, Segun Omidele, as its new chief operating officer, effective immediately.

Omidele, the company said, has worked for Erin Energy since 2011 and led the company’s technical team in its successful deepwater drilling and completion campaign of the Oyo-7 and Oyo-8 wells, located offshore Nigeria. The company said its new COO has over 35 years of experience in the oil and gas industry, including 28 years with Shell Oil companies in Nigeria, the U.K. and the U.S.

Chairman and chief executive officer of Erin Energy, Kase Lawal, said, “Segun’s leadership and knowledge of the business and region have proved exceptionally valuable to our company and I am very pleased he will now serve us as chief operating officer.”

The company also said it has successfully completed acquisition of a new 3D seismic survey off the coast of The Gambia, noting that Polarcus Limited was contracted by the company to carry out the survey using the Polarcus Alima, an ultra-modern 12 streamer 3D/4D seismic vessel. The survey, it said, covered approximately 1,613 square kilometres on Erin Energy’s A2 and A5 blocks.

The company said it would now commence processing and interpretation of the data, with results expected to be available during the second quarter of 2016.

Chief Operating Officer of Erin Energy, Segun Omidele, said, “We are pleased to report that the acquisition has been completed on time and within budget. We look forward to receiving the processed seismic data, which will allow us to build upon our understanding of the prolific plays in this emerging basin, and will assist our team in determining exploration activities on the blocks. We would like to thank Polarcus and our contractors for their professional and efficient work.”

Erin Energy said it is the operator of the A2 and A5 blocks with 100% interest, adding that the A2 and A5 blocks are located approximately 28 miles (45 kilometres) offshore The Gambia and are on-trend with the recent FAN-1 and SNE-1 hydrocarbon discoveries offshore Senegal by Cairn (LSE:CNE), Conoco (NYSE:COP), and FAR (ASX:FAR).