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Camac Energy Inc. has signed a long-term drilling contract with Northern Offshore Ltd. for the Energy Searcherdrillship, covering an initial period of a year, with an option to extend the contract for an additional year.
The rig is slated for delivery in this year’s first half for drilling activity in Oyo field in OML 120 offshore Nigeria.
The Energy Searcher is capable of drilling to 25,000 ft in as much as 2,500 ft of water. Oyo field, which started production in 2009, is in 650-1,600 ft of water.
Camac and partner Allied Energy PLC in October encountered oil and gas in the producing Pliocene reservoir in the Oyo-7 well on OML 120 (OGJ Online, Oct. 16, 2013). A month later, the partners confirmed the presence of oil in Miocene (OGJ Online, Nov. 13, 2013).
Block interests in Oyo field are Allied 70% and Camac 30%.
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