Green light for Sirius to drill first appraisal well on Ororo (Nigeria)

Sirius Petroleum has received approval to drill the proposed Ororo-2A well on the Ororo Field, offshore Nigeria, from the Department of Petroleum Resources (DPR) in Nigeria.

The approval was received by Guarantee Petroleum, one of Sirius’ local partners in the Ororo Field.

The Ororo-2A well is Sirius’ first appraisal well in the Ororo Field, and is named according to the chronological number of the drilling sequence for the field.

“Sirius has been working closely with the DPR and its partners, Guarantee Petroleum and Owena Oil & Gas and, and whilst no Marginal Field licences have yet been formally renewed, the Directors believe that the Approval from the DPR confirms that the partners have met the necessary licence obligations on the asset to allow them to commence operations on the field,” the company said on Tuesday.

The approval will expire six months from the date of issue, being October 26, 2015, at which point Guarantee must seek revalidation on behalf of the Partners, if drilling has not started.

Commenting, Dr. Samuel Omobomi, Chairman of Guarantee Petroleum, said: “We look forward to developing the Ororo Field to first oil with Sirius Petroleum and Owena Oil & Gas and concluding the initial work programme on our shallow offshore asset.”

Commenting, Bobo Kuti, CEO of Sirius Petroleum, said: “I am delighted that we have been able to reach this major milestone towards developing the Ororo Field and building significant value for shareholders.”

The Ororo Field is located within Oil Mining Lease (OML) 95. It lies in shallow waters offshore Ondo State in water depths ranging between 23ft and 27 ft. The field is adjacent to Mina, West Isan, Ewan, Eko and Parabe fields – all of which are operated by Chevron.

The field was discovered in 1986 with the drilling of Ororo-1 well by Chevron.

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