Investors Continue Search for Oil in Ororo Field

• Investors Continue Search for Oil in Ororo Field

Sirius Petroleum has entered into a contract with an oilfield services company, Schlumberger, for the provision of an integrated services management at the Ororo field offshore Nigeria as it intensifies its search for oil.

The Ororo field, discovered in 1986, lies in shallow waters offshore Ondo State in water depths ranging between 23ft and 27 ft.

The Chief Executive Officer, Sirius, Sirius, Bobo Kuti, said in a statement, “We are pleased to add another leading global industry service provider along with the COSL and ADD Energy to our consortium. Schlumberger’s experience, technology, and information solutions will enable us to optimise reservoir performance.”

Guarantee Petroleum has a 55 per cent participating equity interest in the Ororo field with Owena Oil & Gas as its partner, holding the remaining 45 per cent interest. Sirius Petroleum acts as the technical and financing partner in the development of the Ororo field.

As part of Sirius’ shallow offshore development strategy in Nigeria, the contract with Schlumberger was for a multi-well campaign, which would start in the first half of 2017, Sirius stated.

The contract envisages a drilling programme on the Ororo field, located within Oil Mining Lease 95, and can be expanded to include other potential offshore assets, according to the statement.

Also as part of its development strategy in Nigeria, Sirius in November entered into an offshore drilling contract with COSL Drilling for the provision of a jack-up rig that would be used to drill a multi-well campaign on the Ororo field, starting from the first half of 2017.

Schlumberger would provide Sirius with a package of managed and integrated products and services including directional drilling services, logging, completion and production fluids, cementing and pumping services, well intervention and stimulation products and services, well testing services, well site communications and data and software solutions.

In July 2016, the partners in the Ororo field licence gained a three-year extension from the Federal Ministry of Petroleum Resources.