CAMAC Energy to Spud Oyo Field in May (Nigeria)
- Business & Finance
CAMAC Energy Inc. announced that the Energy Searcher drillship, owned by Northern Offshore Ltd., has arrived in Nigeria.
After taking on personnel, equipment and supplies, the rig will move to the Oyo Field, where it is expected to commence drilling operations on the Oyo-8 well in mid-May.
The rig, which is capable of drilling to total depths of up to 25,000 feet, and in water depths of up to 2,500 feet, is under contract for an initial term of one year, which may be extended for an additional one year, to carry out the Company’s development program for the Oyo Field and to drill one or more high-impact exploration wells on OMLs 120 and 121 offshore Nigeria.
CAMAC Energy is an independent oil and gas exploration and production company focused on energy resources in Africa. Its asset portfolio consists of nine licenses across four countries covering an area of 43,000 square kilometers, including existing production and other projects offshore Nigeria, as well as exploration licenses offshore Ghana, onshore and offshore Kenya, and offshore Gambia.
Press Release, May 05, 2014