Camac strikes fresh oil in Nigeria’s Oyo field

CAMAC_Energy13 November 2013, News Wires – US independent Camac Energy has struck more hydrocarbons at a well off Nigeria that it hopes will produce first oil in the middle of next year.

The Houston-based player said it struck a total of 65 feet of net pay between three intervals in the Miocene formation at the Oyo-7 well on offshore Block OML 120.

This makes it the first well to successfully drill into the Miocene formation on the oilfield.

Camac has now been successful in both its primary and secondary objectives at the well having last month hit 115 feet of net oil pay and 93 feet of net gas pay in the already-producing Pliocene formation at the deep-water probe.

Drilling has been temporarily suspended but Camac hopes to drill the horizontal section in the first quarter with debut flows set for the middle of 2014. Initial production from the well is expected to come in at around 7000 barrels per day of oil.

The probe being drilled by the Transocean semi-submersible Sedneth 701 was originally scheduled for between April and August but was put back several times over delays on another job.

Allied Energy, a Nigerian subsidiary of Camac Energy, operates the Oyo field, which straddles OML 120 and OML 121.

The explorer has been aiming to boost output levels at the field, which have lagged well behind targeted 25,000-barrel first-phase output.

The field was originally discovered by Italy’s Eni, which sold out of the project in January 2012.


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