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Wednesday, 13 August 2014

CAMAC Energy strikes oil in Nigeria

CAMAC Energy’s report successful preliminary results at its Oyo field development well offshore Nigeria in OML 120. The Oyo-8 well started drilling on June 15 this year and has both a vertical and a horizontal section. The vertical section was designed to test for additional hydrocarbons in the previously undrilled Eastern fault block of the Oyo field.

Oyo-8 was drilled to a total depth of 1,847m, and successfully encountered four new oil and gas reservoirs with total gross hydrocarbon thickness of 3m based on results from the logging-while-drilling data, reservoir pressure measurement and reservoir fluid sampling.

The well will now be completed horizontally as a producing well in the Pliocene formation of the Central Oyo field. Oyo-7, which was successfully drilled in October 2013, will also be completed horizontally in the Pliocene formation of the Central Oyo field.