CAMAC inks FPSO contract for operations offshore Nigeria
CAMAC Energy Inc., Houston, signed a contract for the floating, production, storage, and offloading vessel Armada Perdana to be used in the company’s operations offshore Nigeria.
Armada Perdana has a production capacity of 40,000 b/d, a storage capacity of 1.1 million bbl. Currently it supports production of 2,000 b/d oil and 40 MMcfd of natural gas from Oyo field in OML Block 120.
CAMAC and partner Allied Energy PLC said the Oyo-7 well confirmed oil in the Miocene (OGJ Online, Nov. 13, 2013).
They drilled for a Miocene secondary objective after encountering oil and gas in the producing Pliocene reservoir (OGJ Online, Oct. 16, 2013).
CAMAC said the FPSO contract is for 5 years, beginning Jan. 1, with an automatic extension for 2 years unless terminated by CAMAC with previous notice.
CAMAC holds 8 production and exploration licenses in 3 countries in Africa. The licenses cover 41,000 sq km, including production and other projects offshore Nigeria as well as exploration licenses with hydrocarbon potential onshore and offshore Kenya and offshore Gambia, the company said.