The exploration pair secured a sub-contract from Nigerian Petroleum Development Corporation, NPDC, on Transocean’s Sedneth 701 semi-submersible in January for a slot between April and August.
The companies now expect to receive the rig on assignment in July for the 60-day drill of Oyo 7, Camac Energy said.
The exploration pair signed up the Sedneth 701 to drill the Oyo 7 on blocks OML 120 and 121 between April and August.
The well’s dual objectives are to increase production from the Pliocene and to test the resource potential in the Miocene at Oyo, which straddles OML 120 and OML 121.
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.
*Bill Lehane, Upstreamonline