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Oyo field production starts off Nigeria

By OGJ editors
HOUSTON, Dec. 15
-- Oyo oil field has started production from two subsea wells in 400 m of water about 75 km off Nigeria.

Italy’s Eni SPA, whose affiliate Nigerian Agip Exploration Ltd. holds a 40% interest in the production-sharing contract and is the operator, said initial production capacity is 25,000 b/d.

The field produces through the Armada Perdana floating production, storage, and offloading vessel, which has treatment capacity of 40,000 b/d of liquids plus gas treatment and reinjection facilities. The FPSO can store as much as 1 million bbl of crude.

Associated gas is to be reinjected into the reservoir by a third well. The development plan also includes a water-injection well.

Other interests in the field are Allied Energy PLC 57.5% and CAMAC Energy Holdings Ltd. 2.5%.

CAMAC last month signed an agreementr to sell its Oyo interest to Pacific Asia Petroleum Inc. in exchange for 62.74% of the common shares of Pacific Asia and $38.84 million cash.


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