A Review of the Nigerian Energy Industry

US pair contracts Transocean rig for Oyo well

08 January 2012, Sweetcrude, Houton – US oil and gas companies, Allied Energy and Camac Energy, have hired a Transocean semi-submersible to drill a delayed deep-water development well on the under-performing Oyo field off Nigeria.

They signed up the Sedneth 701 to drill the Oyo 7 on blocks OML 120 and 121 between April and August.

Segun Omidele, Camac Energy’s senior vice president for exploration and production said the well’s dual objectives were to increase production from the Pliocene and to test the resource potential in the Miocene.

The rig contract is being made under assignment from Nigerian Petroleum Development Corporation, NPDC, which has an existing contract on the unit.

Allied Energy, an affiliate of Camac Energy’s largest shareholder, operates the Nigerian block pair, which Italy’s Eni sold out of this time last year.

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