Lekoil negotiates backing for Ogo wells offshore Nigeria

Lekoil has secured funding for the appraisal drilling and initial development activities on the Ogo field offshore Nigeria.

OPL 310 license offshore Nigeria.
OPL 310 license offshore Nigeria.
(Courtesy Lekoil)

Offshore staff

LAGOS, NigeriaLekoil has secured funding for the appraisal drilling and initial development activities on the Ogo field offshore Nigeria.

The company has entered a binding loan agreement with the Qatar Investment Authority, the sovereign wealth fund of the State of Qatar, for $184 million, to be disbursed in phases over 11 months, with the first drawdown likely in February.

Seawave Invest arranged the co-operation.

The Ogo-1 and Ogo-1 ST wells in 2013 both encountered hydrocarbons within the SynRift and PostRift. Lekoil and the OPL 310 license operator, Optimum Petroleum, plan two wells with a view to obtaining dynamic flow data from testing while preserving both the wells as producers.

The first well could spud in the second half of 2020.

01/02/2020

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