Erin Energy has spuded the Oyo North West Well (Oyo-NW), a high-impact exploration well offshore Nigeria. The well is being drilled using the Pacific Bora and is expected to take approximately 60 days to drill and log.
Chief Executive Officer of the company, Femi Ayoade, said, “we are extremely pleased to have commenced drilling of the Oyo North West Prospect.” “Our team has worked hard to mature our extensive portfolio of prospects and we look forward to positive results from this campaign. A discovery in the Miocene formation would be a significant step forward in the evolution of our company.”
The Oyo-NW is one of the company’s multiple drill-ready Miocene prospects and will target mean resources of 1.1 billion barrels.
The company’s offshore Blocks 120 and 121 are located near many of the region’s ‘super-fields’ in the prolific-producing Niger Delta. Miocene and Pliocene sandstone reservoirs are proven across the blocks and within the region, providing the reservoir with numerous largefields and discoveries.
Detailed mapping of Erin Energy’s prospect portfolio is based on interpretation of modern 3D seismic data the company has acquired on the blocks.
Given the close proximity to its current floating production and offloading facilities located on the producing Oyo Field, if drilling results in a success, the company plans to eventually complete the well as a producer with production tie-back to the Oyo Field facilities.