Miocene oil confirmed in Oyo field offshore Nigeria

The Allied Energy PLC-operated Oyo-7 well on OML 120 offshore Nigeria, first well to penetrate Miocene in Oyo field, has confirmed the presence of oil in Miocene.

The well found hydrocarbons in three intervals totaling 65 ft as interpreted from logging while drilling data, said partner CAMAC Energy Inc., Houston. CAMAC said it will integrate the results into studies to solidify further exploratory plans on OML 120 and 121.

Oyo field’s regular oil pay is in Pliocene, and CAMAC Energy said Oyo-7 successfully achieved its primary and secondary objectives and will be temporarily suspended. Drilling of the horizontal section and completion are to start in the first quarter of 2014. The well should go on production in mid-2014.

Oyo field, which began producing in December 2009, is in 200-500 m of water 75 miles off southern Nigeria. Block interests are Allied Energy 70% and CAMAC Energy 30%.

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