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Erin Proves More Oil In Oyo Offshore Nigeria

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, according to Offshore.
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,” he told Offshore.
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.
About Oyo field
The Deepwater block 120 lies in the western Niger Delta 70 kilometres offshore. Statoil discovered the Oyo oil field in 1996, but it was considered uncommercial at the time. The field was eventually developed by Eni with two subsea production wells tied-back to a leased FPSO (floating production, storage and offloading) vessel. First production was achieved in December 2009. Oyo has not performed according to expectations. After coming onstream at 22,000 b/d, production fell very rapidly due to gas breakthrough in the Oyo-5 well. Within 12 months, oil production had dropped to 6,000 b/d and over 70 mmcfd of gas was being produced. Reserves were slashed from initial estimates of 50 million barrels.
Source: Offshore with additional reporting by e360

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