Erin Energy Produces Over 7,000b Of Oil Daily At Oyo Field | Independent Newspapers Limited
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Erin Energy Produces Over 7,000b Of Oil Daily At Oyo Field

Posted: May 21, 2015 at 12:58 am   /   by   /   comments (0)

By Phillip Oladunjoye – Lagos


Erin Energy Corporation has said that the Oyo-8 well located in OML 120 offshore Nigeria has exceeded expectations and is currently producing at a stabilized rate of 7,080 barrels of oil per day.

Erin Energy is the operator and has a 100% interest in the well.

The company said that it is currently engaged in drilling and completion operations on the Oyo-7 development well and expects to achieve first oil production from the well in a few weeks.

It also added that in preparation for the planned drilling of one of its Miocene exploration prospects later this year, the company has completed site survey of three of its top prospect drilling locations.

Erin Energy said it announced last year that it had identified, and high-graded to drill-ready status, four Miocene exploration prospects, saying that the four prospects have a combined 2.4 billion barrels of recoverable P50 prospective resources.

Senior Vice-President of Exploration and Production, Segun Omidele, said, “We are pleased with the Oyo-8 well’s performance and delighted that well parameters are stable. We plan to continue this very cautious well management approach and expect to bring Oyo-7 on production in a similar manner. We are advancing both our development and exploration work offshore Nigeria and look forward to an exciting second half of 2015.”