Sirius Petroleum has confirmed that the company is in talks with supermajor BP regarding an offtake and pre-payment facility to support Sirius in its financing for the proposed drilling program on the Ororo field, offshore Nigeria.
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The COSL Power, from Sirius. |
“Discussions with BP, and other parties regarding financing, are ongoing and there can be no certainty that Sirius will reach an agreement with BP regarding the proposed offtake and pre-payment,” says Sirius. “The company will provide updates to the market as appropriate.”
The Ororo field, which lies in the shallow waters offshore Ondo State in 23-27ft water depth, is estimated to hold 35.5-44.1 MMbbl in place, and 277-390 Bcf.The field is adjacent to Chevron-operated fields: Mina, West Isan, Ewan, Eko and Parabe.
Sirius will use the COSL Power jackup rig for the Ororo drilling program. The COSL Power is a modern high-specification jackup rig, which is an ABS A1 self elevating drilling unit capable of drilling in water depths of 375ft.
In April, Sirius arranged for the provision of offshore service vessels (OSVs) through Tidewater Marine International, with the signing of an OSV contract for a multi well campaign as part of Sirius’ shallow offshore development strategy in Nigeria.
In late-March, Sirius executed a deal with Polaris Consulting Co. to undertake a geophysical and geotechnical marine survey, ahead of the rig mobilization, which will provide data and analysis for the rig positioning prior to drilling and assess any marine geohazards to ensure safe operations and transportation of equipment.
Sirius received approval from the Nigerian Federal Ministry of Environment in July 2016 on its Ororo field licence OML 95 environmental impact assessment survey (EIA). The EIA covers the drilling of three wells and the installation of wellhead platforms. The Ministry also granted a three-year renewal that month for Ororo.
Sirius is the operator of Ororo. Partners include Guarantee Petroleum and Owena Oil & Gas.
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