Sirius gains extension for Ororo assessment offshore Nigeria
Sirius Petroleum has secured a three-year extension to OML 95 from Nigeria's Federal Ministry of Petroleum Resources (FMPR).
The concession includes theOroro field, originally discovered by Chevron in 1986. The field is located in shallow-water off Ondo state in water depths ranging between 23 ft (72 m) and 27 ft (8 m). Ororo is adjacent to Mina, West Isan, Ewan, Eko, and Parabe fields, all of which are operated by Chevron.
Renewal of the license is conditional upon the payment of a $500,000 fee. This is recoverable from oil production under the original FTSA agreement, announced in October 2011.