CAMAC spuds Nigerian well

The Oyo-8 development well, located offshore Nigeria in OML 120, was spudded on 15 June 2014, operator CAMAC Energy Inc. announced.

The Oyo-8 well, which CAMAC Energy owns and operates with 100% interest, lies within the Oyo field, which is located approximately 75km offshore at 300m water depth.

Northern Offshore's Energy Searcher drillship–currently under a two-year contract–will drill the Oyo-8 well to 1800m TD at 310m water depth, and will produce from the Pliocene reservoir. The Oyo-8 well is expected to commence production 4Q 2014. The Oyo-7 well, which was drilled in 4Q 2013 also by the Energy Searcher, found 115ft net oil pay and 93ft net gas pay, CAMAC said in a 5 June presentation. The company expects to achieve a production rate of 7000bo/d from Oyo-7.

Last month, CAMAC entered into a SURF contract with Ceona regarding CAMAC's Oyo Phase One expansion project. The project covers installation and recovery of umbilical and flexible pipe and light subsea construction in waters up to 500m deep.

In February, CAMAC Energy announced it signed a long-term contract for the Armada Perdana FPSO to produce the Oyo field. The initial contract is for five years with options to extend.

The Oyo field was originally discovered in 1995 by BP and Statoil. It contains light, sweet crude with 33°-34° API.

Image: Energy Searcher drillship/CAMAC Energy Inc.

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