Nigerian government has approved an Environmental Baseline Studies (EBS) for the Ororo marginal field, which covers the drilling of three additional wells.
The Ororo field, discovered in 1986, is located within OML 95 in shallow waters offshore Ondo State. The field lies in water depths ranging between 23ft and 27 ft.
Sirius Petroleum, an investment company focused on oil and gas opportunities in Nigeria, acts as a technical and financing partner in the development of the Ororo field. Guarantee Petroleum has a 55% participating equity interest in the field and Owena Oil & Gas has the remaining 45% interest.
Sirius informed on Tuesday that Guarantee Petroleum has received the EBS revalidation from the country’s Department of Petroleum Resources (DPR).
The company had submitted the studies to the government department on September 27, 2017, as part of the prerequisites for the Ororo drilling campaign. Following review of the report, the DPR has approved the EBS for the Ororo marginal field which covers the drilling of three additional wells to appraise the field as part of the eventual development activities.
Sirius and its partners will maintain the required environmental management plan and environmental audits in accordance with DPR regulations, the company stated.
Sirius expects to drill the Ororo-2 well in the first quarter of 2018 and access the contingent oil and gas resources in the Ororo field with an early production scheme through an extended well test generating an initial estimated rate of approximately 2,700 bopd. The rig has already been secured .