Erin proves more oil in Oyo area offshore Nigeria

Erin Energy reports that it has discovered oil in the deepwater Oyo-NW prospect offshore Nigeria.

Offshore staff

HOUSTON – Erin Energy reports that it has discovered oil in the deepwater Oyo-NW prospect offshore Nigeria.

The location is 9.5 km (5.9 mi) northwest of the Oyo Central field on the company’s offshore block 120.

Oyo-NW’s oil is within the same Miocene formation that has been so productive at fields in nearby blocks.

The company is currently completing well-suspension activities and may re-enter the well at a later date for production purposes.

“These results are very encouraging and support our technical team’s evaluation of the prospectivity of the Miocene and have significantly de-risked the other major Miocene prospects in blocks 120 and 121,” said Femi Ayoade, Erin’s CEO. “We will move quickly to appraise the discovery.”

The well was drilled as planned to TVDSS of 12,218 ft (3,724 m), penetrating multiple sand units with total gross thickness of 260 ft (79 ft) in the depth range 7,052 – 10,873 ft (2,149-3,314 m) TVDSS, based on wireline log analysis.

There appear to be two main sand units, the Miocene U7.0 and U8.0, of which around 83.6 ft (25.5 m) in total is hydrocarbon-bearing.

1/31/2018

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