Allied Energy, Camac confirm further delay in Oyo probe

Camac operated Oyo field16 July 2013, Lagos – US independents, Allied Energy and Camac Energy, have confirmed that the deep-water well planned for the first quarter on the under-performing Oyo field off Nigeria will have to wait a further three weeks.

The exploration pair had initially vowed last October to spud the probe on blocks OML 120 and 121 in the first three months of the year.

In January the duo said they had secured a sub-contract from Nigerian Petroleum Development Corporation, NPDC, for Transocean’s Sedneth 701 semi-submersible for a slot between April and August.

In late May the companies said they were aiming at a 6 July spud date.

The two explorers said that in order to complete its current work with NPDC they do not now expect to receive the rig on assignment until 31 July.

The well’s dual objectives are to increase production from the Pliocene and to test the resource potential in the Miocene at Oyo.

Allied Energy – an affiliate of Camac Energy’s largest shareholder – operate the Oyo field, which straddles OML 120 and OML 121, which Italy’s Eni sold out of in January 2012.

The explorers have remained tight-lipped about the field’s output, which had been targeted at 25,000 barrels per day in the initial phase.

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