Sirius Petroleum PLC Ororo Field - Update
December 21 2017 - 1:00AM
RNS Non-Regulatory
TIDMSRSP
Sirius Petroleum PLC
21 December 2017
21 December 2017
Sirius Petroleum Plc
("Sirius" or the "Company")
Ororo Field Update
Sirius Petroleum (AIM:SRSP), the Nigeria focused oil and gas
development and production company, is pleased to provide an update
on the Company's Ororo Field development program.
Sirius has taken delivery of two sets of Cameron SOLIDrill
modular compact well head systems in Nigeria. All well head
equipment and services for the Ororo Field are being supplied
through Cameron, a Schlumberger Group Company.
Cameron SOLIDrill modular compact wellhead systems increase
casing and tubing hanger landing reliability and help prevent
debris from entering the wellhead. The hangers and packoffs are
designed with angled shoulders to repel debris, such as dirt, metal
shavings, and cement plugs.
Ends
Enquiries:
Sirius Petroleum +44 20 3740 7640
Bobo Kuti, Chief Executive
Mark Henderson, Chief Financial Officer
Cantor Fitzgerald Europe +44 20 7894 7000
Sarah Wharry
Gable Communications +44 20 7193 7463
John Bick
srsp@gablecommunications.com
Sirius Petroleum's Strategy and the Ororo Field
The Company's strategy is to target proven opportunities and
maximize hydrocarbon production and recovery through the
acquisition of discovered assets in Nigeria, with a particular
focus on shallow water offshore areas and realise upside potential
through appraisal activities.
Sirius's initial focus is the Ororo field was originally
operated by Chevron in 1986, drilling Ororo-1 and hydrocarbons were
discovered in seven sandstone reservoirs (D1 to D5, F and G) in
Ororo-1. Four of the reservoirs were tested, two produced oil (D3
and G) and two produced gas condensate (D4 and D5). The original
Ororo-1 well tested at 2,800 bopd and contains 125ft true vertical
thickness (TVT) of net oil pay.
The Ororo field is located within OML 95 in the Niger Delta,
offshore Nigeria, in the western part of the prolific Niger Delta
petroleum system. It lies in shallow waters offshore Ondo State in
water depths ranging between 23ft and 27ft. The field is adjacent
to the Mina, West Isan, Ewan, Eko and Parabe fields, all of which
are operated by Chevron.
Sirius has a 40% economic interest under a Financial &
Technical Service Agreement has entered into a Joint Operating
Agreement ("JOA") in August 2017 with its indigenous partners Owena
Oil & Gas (100% state owned entity) and Guarantee Petroleum,
who own 27% and 33% respectively. The mid-case gross recoverable 2C
contingent resources are 24mmboe.
Sirius has agreed innovative funding and operating partnerships
with global industry leaders to execute the drilling campaign to
first oil. The initial Ororo-2 well program aims at delivering an
initial production of 2,700 bopd in H1 2018.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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